LONDON (dpa-AFX) - Lloyds Banking Group (LLOY.L, LYG) reported that its profit before tax for the nine months ended 30 September 2021 was 5.93 billion pounds compared to 434 million pounds last year. The latest-period results benefited from continued business momentum and a net impairment credit based upon the improved macroeconomic outlook.
Statutory profit after tax for the period was 5.47 billion pounds compared to 707 million pounds in the prior year.
The Group's underlying profit for the first nine months of the year was 6.26 billion pounds, compared to 881 million pounds for the same period in 2020, reflecting both solid financial performance and the improved macroeconomic outlook for the UK.
Total income grew to 27.09 billion pounds from 13.30 billion pounds in the previous year.
The company said it continues to target a return on tangible equity in excess of its cost of equity in the medium term.
Copyright RTT News/dpa-AFX