Company: LLOBF
Filing Date: 2025-02-20
Form Type: 6-K
Source: 0001654954-25-001688
Chunk: 25

Company: Lloyds Banking Group plc
Filing Date: 2025-02-20
Form: 6-K
Chunk 25
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 across credit cards and other Retail (driven by European lending)

● Customer deposits up £11.3 billion, with inflows into limited withdrawal and fixed term products, partly offset by a £1.4 billion reduction in current account balances (significantly lower than the prior year, as expected)

● Risk-weighted assets up 5 per cent in 2024, given higher lending and Retail secured CRD IV model increases, partly offset by capital efficient securitisation activity

1 Customers retained from November 2021. Relates to product holdings, for franchise customers with active relationship.

2 Since 1 January 2022, new mortgage lending on residential property with an Energy Performance Certificate rating of A or B at 30 September 2024; and new lending for Black Horse and operating leases for Lex Autolease and Tusker at 31 December 2024.

DIVISIONAL RESULTS (continued)

Retail (continued)

Retail performance summary A

|                                          |     2024 
       £m |     |     2023 
       £m |     | Change 
      % |
| Underlying net interest income           |    8,930 |     |    9,647 |     |     -7 |
| Underlying other income                  |    2,384 |     |    2,159 |     |     10 |
| Operating lease depreciation             |   -1,319 |     |     -948 |     |    -39 |
| Net income                               |    9,995 |     |   10,858 |     |     -8 |
| Operating costs                          |   -5,596 |     |   -5,469 |     |     -2 |
| Remediation                              |     -750 |     |     -515 |     |    -46 |
| Total costs                              |   -6,346 |     |   -5,984 |     |     -6 |
| Underlying profit before impairment      |    3,649 |     |    4,874 |     |    -25 |
| Underlying impairment                    |     -457 |     |     -831 |     |     45 |
| Underlying profit                        |    3,192 |     |    4,043 |     |    -21 |
| Banking net interest marginA             |    2.49% |     |    2.73% |     | (24)bp |
| Average interest-earning banking