LONDON (dpa-AFX) - Lloyds Banking Group plc (LLOY.L, LYG), on Thursday, reported H1 underlying profit of GBP 3.497 billion compared to GBP 4.041 billion last year. On a per share basis, earnings declined to 3.4p from 3.9p earned a year ago.
Statutory profit before tax totaled GBP 3.324 billion versus GBP 3.870 billion last year, and statutory profit after tax amounted to GBP 2.444 billion compared to GBP 2.864 billion in the prior year period.
Underlying net interest income for the period was GBP 6.338 billion, down 10% from the previous year's GBP 7.004 billion.
Also, the company reaffirmed its guidance for fiscal 2024 and said it is on track to achieve its 2024 strategic and financial outcomes.
Based on its current macroeconomic assumptions, for 2024 the company continues to expect banking net interest margin of greater than 290 basis points, operating costs of about £9.4 billion including the c.£0.1 billion Bank of England Levy, and capital generation of about 175 basis points.
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