Lloyds Banking Group Reports Growth in Q1 Net Income

Lloyds Banking Group plc announced a notable increase in its net income for the first quarter of 2025, reaching £3.3 billion. This marks a 3% rise compared to the same period in the previous year.

Financial Performance Highlights

The bank reported an underlying profit of £1.5 billion, with statutory profit after tax seeing a 7% decrease to £1.1 billion. Despite this, earnings per share remained steady at 1.7 pence, and the CET1 ratio improved to 13.5%.

Leadership's Perspective

"The first quarter of 2025 demonstrated the Group's continued financial strength, with net income growth following the positive trend from the latter half of last year. Our commitment to cost discipline and maintaining resilient asset quality remains unwavering," stated Charlie Nunn, Group Chief Executive.