Lloyds Banking Group Plc · LSE:LLOY
Lloyds Banking — Q3 2026 Earnings Presentation
19 slides from Lloyds Banking's earnings presentation, Oct 29, 2026
Slide 1: Q3 2026 interim management statement
Q3 2026 interim management statement Lloyds Banking Group 29 October 2026
Slide 2: Continuing to deliver, confident in our outlook
Continuing to deliver, confident in our outlook Purpose Helping Sustained strength in financial performance Britain On track to meet our 2026 guidance Prosper Continued strategic delivery laying firm foundations for Accelerate 2030 Lloyds Banking Group 2
Slide 3: Sustained strength in financial performance
Sustained strength in financial performance Financial performance 1 (£m) Q3 2026 Q3 2025 YoY Q3 vs Q2 YTD YTD % 2026 2026 % Net interest income 11,084 10,106 10 3,806 3 • Statutory PAT £4.8bn YTD, up 46% YoY Other income 4,996 4,526 10 1,686 (1) Operating lease depreciation (1,261) (1,075) (17) (420
Slide 4: Continued strength in customer franchise
Continued strength in customer franchise Q3 lending change (£bn) Q3 deposit change (£bn) Retail Commercial Retail Commercial +£1.8bn/+0.5% +£3.3bn/+3.4% (£0.3)bn/(0.1)% +£2.1bn/+1.2% • Lending £495.5 bn, up £4.0bn in Q3; up £14.4bn / 3% YTD 0.2 2.4 o Mortgages up £ 0.3 bn QoQ 1.9 1.9 0.3 o Cards, Lo
Slide 5: Continued growth in net interest income
Continued growth in net interest income Net interest income and banking net interest margin (£bn, bps) £3.71bn £3.81bn 9 (3) (2) (1) 325 322 • YTD NII £ 11.1bn, up 10% YoY • Q3 NII £3.8bn, up 10% YoY, up 3% QoQ Q2 2026 Structural Deposits Mortgages Funding, Q3 2026 o NIM 325bps, up 3bps QoQ driven b
Slide 6: Broad based momentum in other income
Broad based momentum in other income Other income (£m) +9 % 2-year CAGR +8 % YoY • YTD OOI £5.0bn, up 10% 1,705 1,686 1,517 1,557 1,594 1,605 • Q3 OOI £1.7bn, up 8 % YoY, down 1% QoQ 1,430 1,433 1,452 o Strength in Retail and Lloyds Living offset by higher subsidence claims, lower markets income and
Slide 7: Ongoing cost discipline
Ongoing cost discipline Operating costs (£ m) +1% YoY (379) 386 212 (149) 7,246 • YTD operating costs £7.2bn, up 1% YoY 7,176 o Reflects continued cost savings and lower investment (including severance) at this stage in strategic cycle • Q3 operating costs £2.4bn, down 1% QoQ Q3 2025 YTD Cost saving
Slide 8: Strong and stable credit performance
Strong and stable credit performance Impairment (£m) Q3 2026 Q3 2025 YoY Q3 QoQ YTD YTD £m 2026 £m • Strong and stable credit performance reflecting prudent Charge (credit) pre updated MES 1 842 591 (251) 305 38 lending and resilient customer base Retail 760 627 (133) 272 (8) Commercial Banking 81 (
Slide 9: Strong return on tangible equity
Strong return on tangible equity Statutory profit (£m) Q3 2026 Q3 2025 YoY Q3 QoQ YTD YTD % 2026 % Underlying profit 6,582 4,851 36 2,367 7 Restructuring (51) (16) (17) Volatility and other items 94 (157) (18) • YTD RoTE 17.9%; Q3 RoTE 19.5% Statutory profit before tax 6,625 4,678 42 2,332 3 Tax exp
Slide 10: Strong capital generation
Strong capital generation Risk weighted assets (£bn) 3.4 (4.8) 0.2 13.1 247.4 • RWAs £247.4bn, up £11.9bn YTD, up £5.6bn in Q3 o YTD increase reflects strong lending and market and 235.5 other movements, partly offset by optimisation o Q3 increase driven by customer and bank lending with Q4 2025 Und
Slide 11: Updated macroeconomic outlook
Updated macroeconomic outlook CPI inflation UK Bank Rate 4.5% 5.00% 4.0% 4.50% 3.5% 3.0% 4.00% • Modest economic uplift for the UK 2.5% 3.50% 2.0% o Inflation averaging 3.1% in 2026, peaking in Q1 -27 3.00% 1.5% 1.0% 2.50% o Nov -26 BBR increase (no increases previously forecast) Q2 Q4 Q2 Q4 Q2 Q4 Q
Slide 12: On track to meet our 2026 guidance
On track to meet our 2026 guidance 2026 guidance Net interest income >£14.9bn Purpose Cost:income <50% CIR (Operating costs <£9.9bn) Helping Asset quality ratio c.25bps Britain RoTE > 16% Prosper Capital generation >200bps CET1 ratio target Pay down to c.13.0% Capital distribution Progressive and su
Slide 13: Laying firm foundations for Accelerate 2030
Laying firm foundations for Accelerate 2030 Completing the current strategy… …and preparing for the next phase: Accelerate 2030 Accelerate through reimagined customer experiences , increased Group connectivity , and a productivity Strategic initiative c.£2bn revenues by FY 2026 step -change , enable
Slide 14: Q&A
Q&A
Slide 15: Appendix
Appendix
Slide 16: Quarterly P&L and key ratios
Quarterly P&L and key ratios (£m) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Net interest income 3,806 3,709 3,569 3,529 3,451 3,361 3,294 3,276 Other income 1,686 1,705 1,605 1,594 1,557 1,517 1,452 1,433 Operating lease depreciation (420) (452) (389) (379) (365) (355) (355) (3
Slide 17: Updated economic scenarios
Updated economic scenarios Scenario ECL 1 (£m) Measure (%) 2026 2027 2028 2029 2030 Avg. 26 -30 GDP growth 1.4 2.5 1.9 1.6 1.7 1.8 Unemployment rate 4.9 3.7 3.1 3.0 3.3 3.6 HPI growth 1.1 4.3 8.1 7.7 6.5 5.5 Upside (30%) 2,582 CRE price growth 0.7 8.3 4.4 2.7 1.3 3.5 UK Bank Rate 3.81 4.91 5.21 5.36
Slide 18: Investor Relations contacts
Investor Relations contacts Douglas Radcliffe Rohith Chandra -Rajan Group Investor Relations Director Director, Investor Relations [email protected] Rohith.Chandra [email protected] Nora Thoden Stefan Tutino Director, Investor Relations – ESG Senior Manager, Investor Relatio
Slide 19: Disclaimer
Disclaimer Important notice The information, statements, views and opinions contained in this document and accompanying discussion (“this Presentation”) are for informational and reference purposes only . This Presentation has been provided by the Group (defined below) . This Presentation does not p