LLOBF - Lloyds Banking Group: Banking On A Positive Outcome

2025-01-01 09:00:00 ET

Summary

• Lloyds saw modest gains in 2024 versus its peers, largely due to concerns over its motor financing lawsuit, which could cost up to £3.9 billion in remediation charges.
• Despite falling NII and NIM, the bank maintains strong fundamentals with a robust CET1 and projects improved performance through to FY27, supported by higher-yielding structural hedge renewals.
• A strong AQR, stable operating cost outlook, and an ever-growing housing market positions Lloyds well for potential upside if litigation risks subside.

*For all intents and purposes, figures are in GBP and in adjusted/underlying terms, unless stated otherwise. ...

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