Lloyds Banking Group Plc · LSE:LLOY
Lloyds Banking — Investor Day (2026)
44 slides from Lloyds Banking's investor day presentation, 2026
Slide 1: Strategy overview
Strategy overview Charlie Nunn
Slide 2: Stable UK economy, LBG uniquely positioned to grow faster
Stable UK economy, LBG uniquely positioned to grow faster Stable UK economy with potential to move to higher growth trajectory Resilient growth Capacity to spend and invest Constructive regulatory environment Average real GDP growth 1.4% p.a. to 2030 Household debt:income down >15pp 1 vs. 2021 Condu
Slide 3: Accelerate 2030 builds on existing participation choices
Accelerate 2030 builds on existing participation choices Leading UK customer franchise , with focused international growth Unrivalled product breadth, scale, connectivity and data as the UK’s sole integrated financial services provider Unique brands and customer reach across human, digital, third -p
Slide 4: Helping Britain Prosper
Strategy Purpose Accelerate through reimagined customer experiences , increased Group connectivity , and a productivity step -change , enabled by pioneering technology Helping Britain Strategic pillars Prosper Grow the core Innovate to deepen & diversify Simplify to outperform Customer Promise Makin
Slide 5: Three pillars represent distinct opportunities
Three pillars represent distinct opportunities Grow the core Innovate to deepen & diversify Simplify to outperform Focus areas Scale our market leading businesses Increase cross -Group connectivity Build future -ready skills and infrastructure Accelerate in faster growing areas within our core Exten
Slide 6: Driving sustainable value creation
Driving sustainable value creation Building on our competitive advantage… Continued income growth Mid -single -digit net income CAGR Market Digital and Cost and High -single -digit OOI CAGR leader AI leader capital leader Improving operating leverage <45% CIR in 2030, with YoY reductions …to deliver
Slide 7: Business priorities
. (Accelerate a Business priorities
Slide 8: Accelerate 2030 is underpinned by our Purpose
Accelerate 2030 is underpinned by our Purpose A consistent Purpose, addressing critical societal issues… …with bold 2030 ambitions Selected 2027 -2030 examples Access to housing £40bn e.g. Reimagined home journeys, supporting social housing finance Financing to First Time Buyers Regional development
Slide 9: Business priorities: Retail
Business priorities: Retail Strategic differentiators c. 28m c.1k #1 >3m £395bn / £322bn Customers, c.50% of UK Communities with LBG Mortgages, PCA, Cards, Mass affluent Customer loans / adult population human presence Loans, Motor customers deposits Accelerate 2030: Priorities 2030 value 2026 - 203
Slide 10: The UK's most rewarding bank
Retail: Deep dive The UK’s most rewarding bank Deep relationships today… …with further opportunity c.70% >24% >8m Being rewarded for loyalty Main bank #1 PCA balance Unique visitors to is the strongest driver of relationships market share Rewards portal in 2026 customer advocacy Build Group -wide Re
Slide 11: A broader, transformed Homes experience
Retail: Deep dive A broader, transformed Homes experience Market leadership today… …with further opportunity £325bn +4pp 10 days c.£9tn Mortgage balances Direct to bank mix Median time taken for non -digital Residential property 19% stock market share vs. market mortgage offers value in UK Meet broa
Slide 12: The UK's first integrated transport ecosystem
Retail: Deep dive The UK’s first integrated transport ecosystem Market leadership today… Create a single trusted platform for every transport need Initial launch live Simple, joined -up solutions to remove hassle , reduce costs and #1 create a more empowering experience UK vehicle financing and leas
Slide 13: Business priorities: Commercial
Business priorities: Commercial Strategic differentiators c.1m c.21% 1 Leading CIB positions £96bn £179bn BCB and CIB Small business deposit UK - I&PF 2 , cash mgmt., Customer Customer relationships market share sustainable bonds 3 loans deposits Accelerate 2030: Priorities 2030 value 2026 - 2030 ne
Slide 14: BCB: The most trusted, digital and AI-enabled Commercial bank
Commercial: Deep dive BCB: The most trusted, digital and AI -enabled Commercial bank Deep relationships today… Digital and AI -enabled delivery of an enhanced product offering Leading Seamless digital and AI -enabled experiences Live today SME lending and deposit Scale auto credit decisioning and ne
Slide 15: CIB: A focused, modern, client-centric business
Commercial: Deep dive CIB: A focused, modern, client -centric business Strong momentum… Enhance capabilities and presence c.70% Disciplined Cash, Debt, Risk offering Growth in CIB income (H1 Cash: Scale a digital -first and API -enabled transaction banking proposition, embedded in client ecosystems
Slide 16: Business priorities: IP&I
Business priorities: IP&I Strategic differentiators Leading positions >3m c.£250bn c.£140bn c.£5bn Home Insurance, General Insurance Open book AuA Workplace AUA Deferred profit , store of Annuities, Workplace policies (doubled vs. 2021 1) (up >70% vs 2021) future value Accelerate 2030: Priorities 20
Slide 17: The UK's only integrated bancassurance offering
IP&I: Deep dive The UK’s only integrated bancassurance offering Strong progress to date… Drive bancassurance success across our unique product range c.20% Convenient, integrated experiences Embedding in app Mortgage protection take -up rate Simplify journeys, including one -click onboarding for Home
Slide 18: A unique end-to-end, lifetime wealth proposition
IP&I: Deep dive A unique end -to -end, lifetime wealth proposition A comprehensive, growing business… …with further opportunity c.£110bn c.50% c.£5tn c.£20bn Open book wealth AUM Growth in D2C AuA Forecast UK investment assets by Annual outflows to third -party (up c.145% vs. 2021 1) since 2021 2030
Slide 19: Business priorities: Equity Investments
Business priorities: Equity Investments Strategic differentiators Award winning >£2bn >65 >10k c.85% Mid -market private LDC assets under Locations across UK with Lloyds Living homes by Of new Lloyds Living equity business (LDC) management LDC -backed businesses the end of 2026 homes from CIB client
Slide 20: LDC/Lloyds Living: Unique non-banking businesses
Equity Inv : Deep dive LDC/Lloyds Living: Unique non -banking businesses A valuable business... Build further value in LDC and Lloyds Living LDC spotlight Scale to drive profitable growth c.£370m H1 2026 Equity Investments H1 2026 OOI, Consolidate LDC’s leading position with deeper relationships up
Slide 21: Cross-Group priorities: An outstanding connected opportunity
Cross -Group priorities: An outstanding connected opportunity Bancassurance penetration Seamless customer journeys and customer value added End -to -end wealth proposition Customer flow through self -directed, advised propositions and Workplace Whole -Group Innovation Banking proposition BCB relatio
Slide 22: Driving growth through new, unique cross-Group offerings
Connected: Deep dive Driving growth through new, unique cross -Group offerings Uniquely differentiated Provide value in ways that only LBG can Launching soon c. 28m Retail customers Connected Commerce Connect our c. 28m Retail customers with c.1m Commercial clients c.7bn Targeted merchant campaigns
Slide 23: Digital assets: Unlocking the opportunity
Connected: Deep dive Digital assets: Unlocking the opportunity Established leadership Innovate to deliver broad -based customer solutions Lay foundations through industry initiatives Consumer benefits GBTD: Pilot to production across use cases (P2P payments, remortgaging, settlement) Digital remortg
Slide 24: Simplify to outperform: Enabling our strategic acceleration
Simplify to outperform : Enabling our strategic acceleration Invest in talent and infrastructure Digital and AI step change Maximise capital efficiency Build a Group -wide Build future -ready skills Agentic AI capability 20k colleagues on upskilling programmes Drive disciplined Illustrative outcomes
Slide 25: AI: A scale financial services leader, with significant opportunity
Simplify: Deep dive AI: A scale financial services leader, with significant opportunity Established leadership Scale leadership characteristics: Recognised industry leader , incl. Copilot to be rolled out to all Trust, Breadth, ranked #15 in Evident AI index colleagues (from c.40k today) Strategic p
Slide 26: Financial outlook reinforces our track record
Financial outlook reinforces our track record Growing revenues and improved operating leverage driving stronger, sustainable returns 2022 -2024 2025 -2026 2027 -2030 Returning to growth Building momentum Accelerate 2030 Group net income (£bn) c.£ 20 bn c.£ 15bn 2021 2022 2023 2024 2025 2026 2027 202
Slide 27: Financial outlook
Financial outlook William Chalmers
Slide 28: Prudent macro assumptions over plan period
Prudent macro assumptions over plan period Stable economic outlook, resilient strategy in a range of scenarios Economic growth Interest rates Unemployment and HPI Average r eal GDP growth 1.4% p.a. to 2030 Terminal base rate assumption of 3.50% Unemployment peak at 5.5% in Q1 2027 Average nominal GD
Slide 29: Robust financial framework: Long-term, sustainable value
Robust financial framework: L ong -term , sustainable value Continued income growth Financial foundations Investment discipline Investment Improving operating capacity Efficiency focus leverage Risk management Stronger returns & capital generation Growing, sustainable shareholder distributions Lloyd
Slide 30: Investment discipline: Value focused execution, efficient funding
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Investment discipline: Value focused execution, efficient funding Strategic and financial value Higher investment financed by gross cost saves Operating expenses (£bn) Reimagined customer
Slide 31: Efficiency focus: Remains a keystone
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Efficiency focus: Remains a keystone Proven costs track record; further opportunity Capital efficient model Net income per average RWA (%) 2022 -H1 2026 2027 -2030 2021 7.7% >£2bn c.£2bn
Slide 32: Risk management: High quality book, prudent risk appetite
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Risk management: High quality book, prudent risk appetite Consistently low AQR Key drivers Asset quality ratio (bps) – Total (bars) and pre -MES (line) Low risk, diversified balance sheet
Slide 33: Continued income momentum
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Continued income momentum Net income growth (£bn) Innovate to deepen & diversify Grow the core e.g. > £2bn e.g. Digital wallet, Transport Digital assets, Incl. c. £2bn SI ecosystem, Conne
Slide 34: NII supported by diversified lending and deposit growth
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation NII supported by diversified lending and deposit growth… Diversified and growing balance sheet CIB 14% BCB 6% Lending Nominal GDP+ growth across strategic areas, sustainable returns Retai
Slide 35: ...and underpinned by hedge tailwind
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation …and underpinned by hedge tailwind NII growth (£bn) Structural hedge income (£bn) Upside implied 2021 £11.2bn from market rates 2026 >£14.9bn Retail Broad -based lending growth >£9bn Plan
Slide 36: Capital efficient OOI growth, increasing diversification
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Capital efficient OOI growth, increasing diversification Cross -Group opportunities OOI growth (£bn) (e.g. Connected Commerce) 8% OOI CAGR FY 2021 -H1 2026 e.g. e.g. LDC, Bancassurance, L
Slide 37: Consistently improving operating leverage
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Consistently improving operating leverage CIR to improve every year Key underpins Cost:income ratio (%) 54% Revenue Mid -single -digit net income growth CAGR < 50% <45% Cost save s c.£2bn
Slide 38: Stronger, sustainable returns on a growing equity base
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Stronger, sustainable returns on a growing equity base Sustainable growth in RoTE … …with progress through the plan RoTE (%) RoTE (%) Material TNAV and earnings growth c.20% c.20% >18% >1
Slide 39: Growing capital generation, growing shareholder distributions
Financial foundations Continued income growth Improving operating leverage Stronger returns & capital generation Growing capital generation, growing shareholder distributions Growing absolute capital generation on increasing RWAs Targeted deployment to sustain growing distributions Considered half -
Slide 40: Guidance overview
Guidance overview 2026 2027 -2030 Annual guidance to be provided each year -end Mid -single -digit net income CAGR Income NII >£14.9 bn High -single -digit OOI CAGR Cost:income <50% CIR (Operating costs <£9.9bn) <45% CIR in 2030, with YoY reductions Asset quality c.25bps 25 -30bps through the plan p
Slide 41: Closing remarks
Closing remarks Charlie Nunn 61
Slide 42: Driving sustainable value creation
Driving sustainable value creation Building on our competitive advantage… Continued income growth Mid -single -digit net income CAGR Market Digital and Cost and High -single -digit OOI CAGR leader AI leader capital leader Improving operating leverage <45% CIR in 2030, with YoY reductions …to deliver
Slide 43: Investor Relations contacts
Investor Relations contacts Douglas Radcliffe Rohith Chandra -Rajan Group Investor Relations Director Director, Investor Relations Douglas.Radcliffe@lloydsbanking.com Rohith.Chandra -Rajan@lloydsbanking.com Nora Thoden Tom Grantham Director, Investor Relations – ESG Senior Manager, Investor Relation
Slide 44: Disclaimer
Disclaimer Important notice The information, statements, views and opinions contained in this document and accompanying discussion (“this Presentation”) are for informational and reference purposes only . This Presentation has been provided by the Group (defined below) . This Presentation does not p