Quarterly ResultApr 29, 2026, 06:52 AM
LYG Q1 Profit Before Tax +33% to 2.0B; RoTE 17.0%; Reiterates 2026 Guidance
AI Summary
Lloyds Banking Group plc reported a strong Q1 2026, with statutory profit before tax increasing 33% year-on-year to 2.0 billion and a return on tangible equity of 17.0%. The Group delivered sustained financial performance, growing income and maintaining cost discipline. It reiterated its 2026 guidance, including underlying net interest income now expected to be greater than 14.9 billion and return on tangible equity greater than 16%.
Key Highlights
- Statutory profit before tax increased 33% YoY to 2.0 billion.
- Return on tangible equity was 17.0%, up 4.4 percentage points YoY.
- Underlying net interest income grew 8% YoY to 3.6 billion.
- Underlying other income rose 11% YoY to 1.6 billion.
- Operating costs decreased 3% YoY to 2.5 billion.
- Reiterated 2026 guidance for underlying net interest income > 14.9 billion.
- Reiterated 2026 guidance for return on tangible equity >16%.
- CET1 ratio stood at 13.4% after ordinary dividend accrual.