Business
2024 Half-Year Results
2024 Half-Year Results.
About this update from Lloyds Banking Group Plc
[{"type":"text","content":"\n\n \n\n \nLloyds Bank Corporate Markets plc\n2024 Half-Year Results\n \n \n \n \n \n \n \n\nNon-ring-fenced bank\n\n\n\nCONTENTS\n\n\n\n\nFinancial review\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\nStatutory information\n\n\n \n\n\n\n\nCondensed consolidated half-year financial statements (unaudited)\n\n\n7\n\n\n\n\nCondensed consolidated income statement (unaudited)\n\n\n8\n\n\n\n\nCondensed consolidated statement of comprehensive income (unaudited)\n\n\n9\n\n\n\n\nCondensed consolidated balance sheet (unaudited)\n\n\n10\n\n\n\n\nCondensed consolidated statement of changes in equity (unaudited)\n\n\n11\n\n\n\n\nCondensed consolidated cash flow statement (unaudited)\n\n\n13\n\n\n\n\nNotes to the condensed consolidated half-year financial statements (unaudited)\n\n\n14\n\n\n\n\n \n\n\n \n\n\n\n\nStatement of directors' responsibilities\n\n\n31\n\n\n\n\nIndependent review report to Lloyds Bank Corporate Markets plc\n\n\n32\n\n\n\n\nForward-looking statements\n\n\n34\n\n\n\n\nContacts\n\n\n35\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• Strong financial performance from a growing business that's delivering for our customers. Continued business momentum resulted in total income of £529 million (half-year to 30 June 2023: £433 million) and profit before tax of £293 million (half-year to 30 June 2023: £213 million), generating a solid increase in return on tangible equity to 13.3 per cent (year to 31 December 2023: 9.2 per cent)\n• Successful markets performance has continued in 2024, with the financial markets business ending the half-year in the top three for GBP interest rate swaps and increasing the volume of foreign exchange transactions traded as we digitise our capabilities and deepen client relationships. In capital markets, Euro and US Dollar debt capital markets issuance volumes increased by 61 per cent versus the first half of 2023, significantly above the market increase of 27 per cent1. We continue to deepen our footprint within North America including through increased activity on orig...