Company: LLOBF
Filing Date: 2025-10-23
Form Type: 6-K
Source: 0001160106-25-000041
Chunk: 3

Company: Lloyds Banking Group plc
Filing Date: 2025-10-23
Form: 6-K
Chunk 3
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 nine months of 2025 was £ 4,678 million, 9% lower than in the first nine months of 2024 . This included higher total income, more than offset by a charge for motor finance commission arrangements in the third quarter and a higher impairment charge. Profit after tax was £ 3,322 million and earnings per share was 4.8 pence (nine months to 30 September 2024 : £ 3,777 million and 5.3 pence respectively). Total income for the nine months of 2025 was £ 14,252 million, an increase of 6% on the same period in 2024 ( nine months to 30 September 2024 : £ 13,477 million). Net interest income of £ 9,808 million was up 7% on the prior year ( nine months to 30 September 2024 : £ 9,125 million), driven by higher average interest-earning assets and a higher margin, which benefitted from a growing structural hedge contribution as balances were reinvested in a higher rate environment, partially offset by mortgage refinancing driving margin compression and deposit churn headwinds . Other income increased by 2% to £ 4,444 million ( nine months to 30 September 2024 : £ 4,352 million), with higher other operating income and a higher insurance service result, partially offset by lower net trading income and lower net fee and commission income. Other operating income increased by 20% to £ 1,639 million ( nine months to 30 September 2024 : £ 1,369 million) as a result of vehicle fleet growth and higher average vehicle rental values in UK Motor Finance within Retail. The insurance service result benefitted from higher income in the workplace pensions business and higher general insurance income net of claims. Net trading income benefitted from growth in Equity Investments and Central Items, which was driven by the Group’s equity and direct investment businesses, with strong income growth from Lloyds Living and higher income from Lloyds Development Capital. This was more than offset by the effects of negative market volatility. Total operating expenses were £ 8,955 million (nine months 30 September 2024: £ 8,058 million). This included a higher remediation charge relating to motor finance commission arrangements and reflected inflationary pressures, strategic investment including planned higher severance front-loaded into the first quarter of 2025 and business growth costs. This was partially offset by cost savings and continued cost