Company: LLOBF
Filing Date: 2025-07-24
Form Type: 6-K
Source: 0001654954-25-008460
Chunk: 3

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 3
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 first half of 2025, from attributable profit and the unwind of the cash flow hedging reserve, partially offset by capital distributions in respect of 2024

● Interim ordinary dividend of 1.22 pence per share (equivalent to £731 million), up 15% on the prior year

RESULTS FOR THE HALF-YEAR (continued)

2025 guidance re-affirmed

Based on our current macroeconomic assumptions, for 2025 the Group continues to expect:

● Underlying net interest income of c.£13.5 billion

● Operating costs of c.£9.7 billion

● Asset quality ratio of c.25 basis points

● Return on tangible equity of c.13.5%

● Capital generation to be c.175 basis points 2

Confident in 2026 guidance

Based on our current macroeconomic assumptions and confidence in our strategy, the Group is maintaining its guidance for 2026:

● Cost:income ratio of less than 50%

● Return on tangible equity of greater than 15%

● Capital generation of greater than 200 basis points 2

● To pay down to a CET1 ratio of c.13.0%

1 See the basis of presentation on page 97.

2 Excludes capital distributions. Includes ordinary dividends received from the Insurance business in February of the following year.

<div align='center'>**INCOME STATEMENT (UNDERLYING BASIS) A AND KEY BALANCE SHEET METRICS**</div>

|                                          | Half-year to 
       30 Jun 
         2025 
           £m |     | Half-year to 
       30 Jun 
         2024 
           £m |     |  Change 
       % |     | Half-year to 
       31 Dec 
         2024 
           £m |     |  Change 
       % |
| Underlying net interest income           |        6,655 |     |        6,338 |     |       5 |     |        6,507 |     |       2 |
| Underlying other income                  |        2,969 |     |        2,734 |     |       9 |     |        2,863 |     |       4 |
| Operating lease depreciation             |         -710 |     |         -679 |     |      -5 |     |         -646 |     |     -10 |
| Net income                               |        8,914 |     |