Business
2025 results
Lloyds Banking Group reported a statutory profit before tax of £6.7 billion for 2025, a 12% increase from the previous year, driven by higher total income of £19.4 billion, which was up 8%. The underlying net interest income rose 6% to £13.6 billion, with a banking net interest margin of 3.06%, and underlying other income increased 9% to £6.1 billion. The Group generated capital of 147 basis points, enabling total shareholder distributions of up to £3.9 billion, including a recommended final dividend of 2.43 pence per share and an announced share buyback of up to £1.75 billion. For 2026, the Group forecasts underlying net interest income of approximately £14.9 billion, a cost:income ratio below 50%, an asset quality ratio of around 25 basis points, and a return on tangible equity greater than 16%. Disclaimer*
About this update from Lloyds Banking Group Plc
[{"type":"text","content":"\n\n \n \n \n \n \n \n \n \nLloyds Banking Group plc\n2025 results\n29 January 2026\n \n \n \n\n\n\nCONTENTS\n\n\n\n\nResults for the full year\n\n\n1\n\n\n\n\nIncome statement (underlying basis)A and key balance sheet metrics\n\n\n3\n\n\n\n\nQuarterly informationA\n\n\n4\n\n\n\n\nBalance sheet analysis\n\n\n5\n\n\n\n\nGroup results - statutory basis\n\n\n6\n\n\n\n\nGroup Chief Executive's statement\n\n\n7\n\n\n\n\nSummary of Group resultsA\n\n\n9\n\n\n\n\n\n\n\n \n\n\n\n\nDivisional results\n\n\n \n\n\n\n\nSegmental analysis - underlying basisA\n\n\n18\n\n\n\n\nRetail\n\n\n19\n\n\n\n\nCommercial Banking\n\n\n21\n\n\n\n\nInsurance, Pensions and Investments\n\n\n23\n\n\n\n\nEquity Investments and Central Items\n\n\n27\n\n\n\n\n\n\n\n \n\n\n\n\nRisk management\n\n\n \n\n\n\n\nPrincipal risks and uncertainties\n\n\n29\n\n\n\n\nCapital risk\n\n\n30\n\n\n\n\nCredit risk\n\n\n35\n\n\n\n\nLiquidity risk\n\n\n48\n\n\n\n\nInterest rate sensitivity\n\n\n50\n\n\n\n\n\n\n\n \n\n\n\n\nStatutory information\n\n\n \n\n\n\n\nCondensed consolidated financial statements (unaudited)\n\n\n51\n\n\n\n\nConsolidated income statement (unaudited)\n\n\n51\n\n\n\n\nConsolidated statement of comprehensive income (unaudited)\n\n\n52\n\n\n\n\nConsolidated balance sheet (unaudited)\n\n\n53\n\n\n\n\nConsolidated statement of changes in equity (unaudited)\n\n\n54\n\n\n\n\nConsolidated cash flow statement (unaudited)\n\n\n56\n\n\n\n\nNotes to the condensed consolidated financial statements (unaudited)\n\n\n57\n\n\n\n\n\n\n\n \n\n\n\n\nKey dates\n\n\n61\n\n\n\n\nBasis of presentation\n\n\n61\n\n\n\n\nAlternative performance measures\n\n\n62\n\n\n\n\nForward-looking statements\n\n\n68\n\n\n\n\nContacts\n\n\n \n\n\n\n\nPreliminary results\nThe financial information contained in this document is unaudited and does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006.\nForward-looking statements\nThis news release contains forward-looking statements. For further details, reference should be made to page 68.\nAlternative performance measures\nThe Group uses a number of alternative performance measures, including underlying profit, in the description of its business performance and financial position. These measures are labelled w...