Statutory profit after tax for Q4 was GBP 1.234B vs GBP 1.706B last year; net interest margin of 2.98% vs 3.22% last year. Net interest income in the fourth quarter of GBP 3.317B was lower than the third quarter, with a lower net interest margin of 2.98 per cent from mortgage pricing and deposit mix headwinds. CEO Charlie Nunn said, “2023 was an important year for our Group. We continued to deliver on our purpose of Helping Britain Prosper, supporting both our customers and shareholders. We are seeing real evidence of strategic progress as we transform the business and have increased confidence in delivering the 2024 and 2026 strategic commitments. Our purpose-driven strategy is helping people and businesses across the UK finance their ambitions and grow whilst enabling us to build a more sustainable and inclusive business. This progress has been underpinned by continued strategic investment and contributed to a financial performance that has driven strong capital generation and increased shareholder distributions.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on LYG:
- Lloyds Banking upgraded to Market Perform from Underperform at Keefe Bruyette
- UK’s Santander, Lloyds Duped by Iran to Avoid Sanctions
- Lloyds Banking downgraded to Neutral from Buy at BofA
- FTSE-100 Listed Lloyds: BofA’s Top U.K. Banking Pick for 2024
- Global banks cut over 60,000 positions in 2023, FT reports