Lloyds Banking (GB:LLOY) has released an update.
Lloyds Banking Group reports a statutory profit after tax of £1.2 billion for Q1 2024, a decrease from the previous year’s £1.6 billion. Despite a 9% drop in net income and a 10% decrease in underlying net interest income, the bank saw a 7% increase in other income and a strong capital generation of 40 basis points. The Group remains committed to its strategic outcomes and reaffirms its 2024 guidance, expecting a return on tangible equity of about 13%.
For further insights into GB:LLOY stock, check out TipRanks’ Stock Analysis page.
