EarningsQ2 2026 Earnings Report
DE:LLD2 Q2 2026 EPS Results
Actual EPS€0.11
Consensus EPS€0.11
Beat/MissMissed by -<€0.01
One Year Ago EPS€0.10
DE:LLD2 Q2 2026 Revenue Results
Actual Revenue€6.33B
Expected Revenue€5.95B
Beat/MissBeat by +€384.05M
YoY Revenue Growth+16.64%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
DE:LLD2 Upcoming Earnings
Lloyds Banking's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:LLD2 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial story: robust H1 results, clear capital strength, meaningful shareholder returns (30% interim dividend uplift and a GBP 1bn buyback) and a detailed, well‑quantified Accelerate 2030 strategic plan with explicit targets for income growth, efficiency and returns. Challenges identified — used car pricing pressure in leasing, near‑term cost phasing, conservative hedge assumptions, RWA increases and regulatory/AI execution risks — are acknowledged and framed as manageable within the strategy. On balance the announcement conveys confidence in sustained profitable growth while prudently recognising execution and macro/regulatory uncertainties.Company Guidance
Robust H1 financial performance
Statutory profit after tax GBP 3.1bn; return on tangible equity 17.1% in H1; net income GBP 9.7bn, up 9% year‑on‑year; H1 impairment charge GBP 617m (asset quality ratio 25bps) demonstrating stable credit performance.
Strong net interest income and margin momentum
H1 net interest income GBP 7.3bn, up 9% YoY; H1 net interest margin 319bps with Q2 margin 322bps (up 5bps Q‑on‑Q); company guidance expects NII > GBP 14.9bn in 2026 and structural hedge income growth (GBP 3.4bn in H1; target > GBP 7bn in 2026, > GBP 8bn in 2027, > GBP 9bn by 2030).
Material shareholder returns announced
Interim ordinary dividend increased by 30%; interim share buyback GBP 1.0bn announced; together with dividend this represents over GBP 1.9bn of H1 capital return and circa GBP 17bn of distributions across the plan period (equivalent to ~25% of current market cap).
Broad-based other income growth and diversification
Other income H1 GBP 3.3bn, up 11% YoY (Q2 +6% vs Q1); insurance, pensions & investments OOI up 19% YoY; equity investments OOI up >40% YoY; group OOI contribution increased ~4 percentage points since 2021.
Customer and balance sheet momentum
Group lending GBP 492bn (up ~GBP 5bn or 1% vs Q1); deposits > GBP 0.5tn (Q2 +GBP 5bn or 1%); mortgages (ex‑securitisation) grew GBP 2bn in Q2; open book AUA ~GBP 251bn (quarterly growth ~GBP 25bn).
Cost discipline and efficiency gains
H1 operating costs flat YoY at GBP 4.9bn; Q2 cost‑income ratio 49% (in‑line with sub‑50% full‑year guidance); realized > GBP 2bn gross cost savings since 2021 and targeting an additional GBP 2bn gross savings (2027–2030).
Capital strength and targets
First‑half capital generation 108bps; pro forma CET1 after distributions 13.1% with a stable CET1 target of 13%; guidance for >200bps capital generation in 2026 rising to >225bps by 2030.
Ambitious, quantified Accelerate 2030 plan
Targets include mid‑single‑digit net income CAGR to 2030, high single‑digit OOI CAGR, cost‑income ratio <45% by 2030, RoTE circa 20% by 2030 and sustained capital generation (>225bps) — underpinned by >GBP 13bn cash investment during the strategic period.
Digital & AI progress and capability build
~11,000 technology & data hires since 2021; delivered > GBP 100m of value from generative and Agentic AI in 2026 (narrow definition); early mover activity in digital assets pilots and tokenized deposits; announced customer propositions (e.g., Lloyds Smart Wallet).
DE:LLD2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed