Business
2023 Half-Year Results
2023 Half-Year Results.
About this update from Lloyds Banking Group Plc
[{"type":"text","content":"\n\nLloyds Bank Corporate Markets plc\n2023 Half-Year Results\n13 September 2023\n \n\n\n\nCONTENTS\n\n\n\n\n \n\n\nPage \n\n\n\n\nResults for the half-year and review of performance\n\n\n1\n\n\n\n\n \n\n\n \n\n\n\n\nPrincipal risks and uncertainties\n\n\n5\n\n\n\n\n \n\n\n \n\n\n\n\nCondensed consolidated interim financial statements\n\n\n10\n\n\n\n\nConsolidated income statement\n\n\n11\n\n\n\n\nConsolidated statement of comprehensive income\n\n\n12\n\n\n\n\nConsolidated balance sheet\n\n\n13\n\n\n\n\nConsolidated statement of changes in equity\n\n\n15\n\n\n\n\nConsolidated cash flow statement\n\n\n18\n\n\n\n\nNotes to the condensed consolidated half-year financial statements\n\n\n19\n\n\n\n\n \n\n\n \n\n\n\n\nStatement of directors' responsibilities\n\n\n45\n\n\n\n\nIndependent review report to Lloyds Bank Corporate Markets plc\n\n\n46\n\n\n\n\nForward looking statements\n\n\n48\n\n\n\n\n \n\n\n\nLBCM's purpose is Helping Britain Prosper\nBy connecting the UK and Lloyds Banking Group with the world\n \nRESULTS FOR THE HALF-YEAR\n \n• Solid financial performance against a backdrop of continued market volatility and inflationary pressures - profit before tax of £213 million (half-year to 30 June 2022 £249 million) and strong CET1 ratio of 14.5 per cent (14.6 per cent at 31 December 2022)\n• Continuing to support our customers' needs by providing product choice in an evolving environment and uncertain economic outlook. We are mindful of the impact of higher interest rates and inflation on our customers\n• Solid business performance with Markets ending the half-year in the top three for sterling issuance1 and deepening foreign exchange percentage share of wallet; and supporting Lloyds Banking Group (LBG) on signature transactions\n• Strategic investment continues with delivery including the further roll out of our new cash management and payments platform in the Crown Dependencies; and continuing to invest in our foreign exchange proposition including capabilities on the FXall and Bloomberg platforms\n \nLloyds Bank Corporate Markets plc's (LBCM) strategy continues to be to connect the UK and LBG with the world through a fir...