Business
IFRS 17 Transition Document Issued
IFRS 17 Transition Document Issued.
About this update from Lloyds Banking Group Plc
[{"type":"text","content":"\n \n \n \n \n \n 4 April 2023\n \n \n \n LLOYDS BANKING GROUP ISSUES IFRS 17 TRANSITION DOCUMENT\n \n \n \n IFRS 17 is the new accounting standard for insurance contracts, which is effective from 1 January 2023, and will therefore be reflected in future corporate reporting. In advance of the Lloyds Banking Group first quarter results on 3 May 2023, and as previously indicated, the Group has today published its transition document providing further detail on the accounting changes and restated financials for 2022 on an IFRS 17 basis.\n \n \n \n \n \n These restatements provide comparatives for future reporting and are consistent with the detail and guidance previously provided in the 2022 Results.\n \n \n \n \n \n A copy of the document is available through the 'Investors' section of our website\n \n \n www.lloydsbankinggroup.com\n \n \n \n \n \n \n \n \n \n \n - END -\n \n \n \n \n \n \n \n \n For further information:\n \n \n \n \n \n \n Investor Relations\n \n \n \n Douglas Radcliffe +44 (0) 20 7356 1571\n \n \n Group Investor Relations Director\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n Corporate Affairs\n \n \n \n Matt Smith +44 (0) 20 7356 3522\n \n \n Head of Media Relations\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n FORWARD LOOKING STATEMENTS\n \n \n \n This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Banking Group plc together with its subsidiaries (the Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Group's or its directors' and/or management's beliefs and expectations, are forward looking statements. Words such as, without limitation, 'believes', 'achieves', 'anticipates', 'estimates', 'expects', 'targets', 'should', 'intends', 'aims', 'projects', 'plans', 'potential', 'will', 'would', 'could', 'considered', 'likely', 'may', 'seek', 'estimate', 'probability', 'goal', 'objective', 'deliver', 'endeavour', 'prospects', 'optimistic' and similar ...