Lloyds Banking Group PLC

Lloyds Banking Group PLC (LSE: LLOY) is an FTSE 100 index-listed UK-based provider of financial services to individual and business customers in the United Kingdom. The Company's main business activities are retail and commercial banking, general insurance, long-term savings, protection, and investment.

H1 FY23 Results (Released on 26 July 2023)

• Improved Financial Performance: The company reported an increase of 14% in the underlying net interest income which stood at GBP 7,004 mn in H1 FY23 against GBP 6,135 mn in pcp, resulting in the overall increase of 11% in the net income at GBP 9,186 mn in the reported period (H1 FY23) versus GBP 8,289 mn in pcp.
• Profitability: The underlying profit improved by 10% to GBP 4,041 mn in the reported period (H1 FY23) as compared to GBP 3,662 mn in pcp, whereas the Earnings per share saw an uptick of GBX 3.9 per share in H1 FY23 against GBX 3.1 in pcp.
• Dividend Declaration: The management announced an increase of 15% in the interim ordinary dividend at GBX 0.92 per share in H1 FY23 and the bank is also considering further buyback to return any surplus capital to the shareholders.
• Outlook: The management is expecting the banking net margin to be higher than 310 basis points whereas the operating costs to be approx. GBP 9.1 bn in FY23. Further, the group estimated the Return on tangible equity to be higher than 14% and the capital generation to be close to 175 basis points, in FY23.
  

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Lloyds Banking Group PLC (LSE: LLOY) was trading at the current market price of GBX 44.71 (as of 26 July 2023, 12:27 PM GMT+1)  

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 26 July 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.

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