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

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 24
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.9 million customers actively using the Group's mobile apps; with new GenAI assisted search in the Lloyds app, which received an award for Best AI Use In Finance at The AI Awards

● Over 95% of sales now through digital channels. Support from Relationship Managers now available across six product journeys in the mobile app, with c.90,000 customers accessing live in-app connections

● Launched new digital remortgage journey, giving customers seamless end-to-end experience; digital applications up c.6 percentage points and valuable direct mortgage application share up c.4 percentage points

● Introduced Branch co-servicing, allowing customers to visit any Lloyds, Halifax or Bank of Scotland branch with c.300,000 cross-brand transactions completed. Customers served per distribution FTE up over 40% since 2021

● Launched UK banking firsts including Lloyds Travel Booking, allowing customers to book flights and hotels in the app, alongside digital wills and powers of attorney journeys for customers' future planning

● 12 million users registered for 'Your Credit Score', wit h 4.8 million active users in the last 3 months alone, empowering our customers financially by helping them manage their credit healt h

● 20% 1 of ISA market flows throughout 2025 ISA season, with over 375,000 new cash ISA accounts opened, helping customers save an additional £6.6 billion tax free

● Making EVs more accessible through Tusker, with the fleet now exceeding 68,000 vehicles, up 41% versus the first half of 2024, supporting the UK's ambition to transition to net zero by 2050

● Chosen as General Motors (UK) finance partner and partner to Xpeng via our International Motors joint venture

Financial performance

● Underlying net interest income increased 6%, with stronger structural hedge earnings and higher unsecured loan balances, partly offset by continued mortgage margin compression and deposit churn headwinds

● Underlying other income up 13% from fleet growth and higher rental values in Motor and current account income

● Operating lease depreciation charge increased by 4% compared to the first half of 2024, due to fleet growth, the depreciation of higher value vehicles and declines in used electric car prices over the last 12 months. Used car price declines in the second quarter of 2025 were offset by a number of mitigating management actions, including used car leasing and remarketing agreements

● Operating costs up 6%,