Company: LLOBF
Filing Date: 2025-05-01
Form Type: 6-K
Source: 0001654954-25-004952
Chunk: 3

Company: Lloyds Banking Group plc
Filing Date: 2025-05-01
Form: 6-K
Chunk 3
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 1 |
| Repurchase agreements at amortised cost                         |    38,474 |     |    37,760 |     |      2 |
| Financial liabilities at fair value through profit or           
 loss                                                            |    30,039 |     |    27,611 |     |      9 |
| Derivative financial instruments                                |    18,359 |     |    21,676 |     |    -15 |
| Debt securities in issue at amortised cost                      |    67,823 |     |    70,834 |     |     -4 |
| Liabilities arising from insurance and participating investment 
 contracts                                                       |   120,131 |     |   122,064 |     |     -2 |
| Liabilities arising from non-participating investment           
 contracts                                                       |    49,829 |     |    51,228 |     |     -3 |
| Other liabilities                                               |    34,286 |     |    30,644 |     |     12 |
| Subordinated liabilities                                        |     9,446 |     |    10,089 |     |     -6 |
| Total liabilities                                               |   862,097 |     |   860,809 |     |        |
| Total equity                                                    |    47,800 |     |    45,888 |     |      4 |
| Total equity and liabilities                                    |   909,897 |     |   906,697 |     |        |

### REVIEW OF PERFORMANCE A

#### Income statement A
The Group’s statutory profit before tax for the first quarter of 2025 was £1,517 million, 7% lower than in the first quarter of 2024. This was driven by higher total income more than offset by higher operating expenses and a higher impairment charge. Profit after tax was £1,134 million and earnings per share was 1.7 pence (three months to 31 March 2024: £1,215 million and 1.7 pence respectively). Compared to the fourth quarter of 2024, statutory profit after tax was up 62%, including the impact of a charge for the potential impacts of motor finance commission arrangements in the fourth quarter.

The Group’s underlying profit was £1,532 million in the first three months of 2025, a reduction of 13% compared to £1,757 million in the same period in 2024 with higher net income