Lloyds Banking Group profit jumps 29% to £1,240m
Lloyds Banking Group reported today that its attributable profit stood at £1,069 million (€1,240 million) in the first quarter, 29% less than in the same period of 2023, due to lower interest income and higher operating expenses.
© Lusa
Economia Lloyds
In a statement sent to the London Stock Exchange, the bank said its pre-tax profit was £1,628 million (€1,888 million) between January and March, down 28% on the same quarter last year.
The group’s total income rose by 22% to £11,317 million (€13,127 million).
The volume of loans to customers at 31 March was down 1% to £448,500 million (€520,260 million), while deposits were also down 1% to £469,200 million (€544,272 million).
The loan to deposit ratio was 96% in the first three months of the year, unchanged on the same period a year earlier.
The CET1 capital ratio was 13.9%, compared with 14.1% in the same quarter last year.
The group’s chief executive, Charlie Nunn, said the bank had delivered “solid net income, cost discipline and strong asset quality”.
“Our performance gives us further confidence in our strategic ambitions,” he said.
The group’s aim is to deliver “higher and more sustainable” returns and to “continue to help the UK prosper”, he added.
Read Also: Há mais quartos para arrendar? Oferta aumenta 75% num ano (Portuguese version)
Descarregue a nossa App gratuita.
Oitavo ano consecutivo Escolha do Consumidor para Imprensa Online e eleito o produto do ano 2024.
* Estudo da e Netsonda, nov. e dez. 2023 produtodoano- pt.com