Company: LLOBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001654954-25-012079
Chunk: 2

Company: Lloyds Banking Group plc
Filing Date: 2025-10-23
Form: 6-K
Chunk 2
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 9 October, the Group announced the full acquisition of Schroders Personal Wealth, previously operated as a joint venture with Schroders Group. The acquired business supports c.£17 billion in assets under administration and accelerates delivery of the Group’s wealth strategy to deepen relationships in a high value segment

2025 guidance revised

Based on our current macroeconomic assumptions, for 2025 the Group expects:

●

Underlying net interest income now expected to be c.£13.6 billion

●

Operating costs of c.£9.7 billion, excluding the acquisition of Schroders Personal Wealth 2

●

Asset quality ratio now expected to be c.20 basis points

●

Return on tangible equity now expected to be c.12% (c.14% excluding the third quarter motor finance charge)

●

Capital generation now expected to be c.145 basis points 3 (c.175 basis points 3 excluding the third quarter motor finance charge)

1 See the basis of presentation on page 4 .

2 Modestly greater than £9.7 billion, including the acquisition of Schroders Personal Wealth in the fourth quarter of 2025.

3 Excludes capital distributions.

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

|                                          | Nine months 
       ended 
      30 Sep 
        2025 
          £m |     | Nine months 
       ended 
      30 Sep 
        2024 
          £m |     |  Change 
       % |     | Three months 
        ended 
       30 Sep 
         2025 
           £m |     | Three months 
        ended 
       30 Sep 
         2024 
           £m |     |  Change 
       % |
| Underlying net interest income           |      10,106 |     |       9,569 |     |       6 |     |        3,451 |     |        3,231 |     |       7 |
| Underlying other income                  |       4,526 |     |       4,164 |     |       9 |     |        1,557 |     |        1,430 |     |       9 |
| Operating lease depreciation             |      -1,075 |     |        -994 |     |      -8 |     |         -365 |     |         -315 |