LLDTF - Lloyds Banking GAAP EPS of 3.90p revenue of £7B; updates FY23 guidance
2023-07-26 03:55:02 ET
- Lloyds Banking press release ( NYSE: LYG ): 1H GAAP EPS of 3.90p.
- Revenue of £7B (+14.0% Y/Y).
- Net interest margin of 3.14% in the second quarter, down 8 basis points compared to the first, given expected headwinds from mortgage and deposit pricing.
- CET1 ratio of 14.2% after 44 basis points for ordinary dividend accrual and 21 basis points for the Tusker acquisition. Remains ahead of ongoing target of 12.5%, plus a management buffer of 1%.
- Enhancing guidance for 2023 , delivering higher, more sustainable returns: Based on our purpose-driven strategy, robust financial performance and the Group’s revised macroeconomic forecasts, we are enhancing our 2023 guidance and now expect: Banking net interest margin to be greater than 310 basis points; Operating costs to be £9.1 billion; Asset quality ratio to be 30 basis points; Return on tangible equity to be greater than 14%; Capital generation to be 175 basis points.
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Lloyds Banking GAAP EPS of 3.90p, revenue of £7B; updates FY23 guidance