LONDON (dpa-AFX) - Lloyds Banking Group (LLOY.L, LYG) reported Thursday weak profit in its third quarter, despite higher income.
Looking ahead for fiscal 2025, the company revised its outlook, and now expects underlying net interest income to be around 13.6 billion pounds.
The company previously expected full-year underlying net interest income of around 13.5 billion pounds.
Charlie Nunn, Group Chief Executive, said, 'The Group continues to perform well, demonstrating robust financial performance alongside strategic progress, including our recent acquisition of Schroders Personal Wealth.... Our strategic progress combined with this financial performance gives us confidence in our performance for the year and our 2026 guidance.'
In the third quarter, profit before tax declined 36 percent to 1.17 billion pounds from last year's 1.82 billion pounds. Profit after tax fell 42 percent to 778 million pounds or 1 pence per share from 1.33 billion pounds or 1.9 pence per share a year ago.
Underlying profit was 1.29 billion pounds, down 30 percent from 1.85 billion pounds last year.
Net income for the quarter grew 7 percent to 4.64 billion pounds from prior year's 4.35 billion pounds.
Underlying net interest income was 3.45 billion pounds, a growth of 7 percent from 3.23 billion pounds last year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
