Lloyds Banking Group reported a significant increase in first-quarter profits driven by higher total income and improved net interest margins. The lender reiterated its full-year 2026 outlook, projecting underlying net interest income to exceed £14.9 billion.
- Pre-tax profit climbed 33% to £2.03 billion
- Profit after tax increased 37% to £1.56 billion
- Banking net interest margin rose to 3.17%
- Total income grew 10% to £5.18 billion
- FY26 underlying net interest income target maintained at over £14.9 billion
- New corporate strategy announcement expected with half-year results
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