Company: LLOBF
Filing Date: 2025-05-01
Form Type: 6-K
Source: 0001654954-25-004952
Chunk: 2

Company: Lloyds Banking Group plc
Filing Date: 2025-05-01
Form: 6-K
Chunk 2
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 net assets per share of 54.4 pence, up by 2.0 pence in the quarter from attributable profit alongside unwind of the cash flow hedge reserve

2025 guidance reaffirmed

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 of c.175 basis points 2

1 See the basis of presentation on page 1 .

2 Excluding capital distributions. Inclusive of 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>

|                                          | Three months ended 31 Mar 2025£m |     | Three months ended 
        31 Mar 2024 
                 £m |     |  Change 
       % |     | Three months ended 
        31 Dec 2024 
                 £m |     |   Change 
        % |
| Underlying net interest income           |                            3,294 |     |              3,184 |     |       3 |     |              3,276 |     |        1 |
| Underlying other income                  |                            1,452 |     |              1,340 |     |       8 |     |              1,433 |     |        1 |
| Operating lease depreciation             |                             -355 |     |               -283 |     |     -25 |     |               -331 |     |       -7 |
| Net income                               |                            4,391 |     |              4,241 |     |       4 |     |              4,378 |     |          |
| Operating costs                          |                           -2,550 |     |             -2,402 |     |      -6 |     |             -2,450 |     |       -4 |
| Remediation                              |                                – |     |                -25 |     |         |     |               -775 |     |          |
| Total costs                              |                           -2,550 |     |             -2,427 |     |      -5 |     |             -3,225 |     |