Lloyds Banking Group plc (LLOY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Lloyds Banking Group 2026 Q1 interim management statement call. At this time, all participants are in a listen only mode. There will be a presentation from William Chalmers, followed by a question and answer session. If you wish to ask a question, please press star one on your telephone. Please note that this call is scheduled for one hour and is being recorded. I will now hand over to William Chalmers. Please go ahead. Thank you, operator, and good morning, everyone. Thank you for joining our Q1 results call. As usual, I'll run through the group's financial performance before we then open the line for Q&A. Let me start with an overview of our key messages on slide two. In Q1, we continue to make progress on our strategy as we enter the final year of our current plan. As you heard in January, we have a busy year of delivery over 2026 with momentum building across the business. In the first quarter, the group once again delivered sustained strength in financial performance. This means continued growth in income, ongoing cost discipline and strong asset quality. We have a resilient business model that positions us well in the context of the current macroeconomic environment. Our financial performance gives us confidence in the outlook for our business. We are reiterating our 2026 guidance, including a modest increase in net interest income. Let me now talk about financials on slide three. Lloyds Banking Group continues to deliver sustained strength in its financial performance. In Q1, statutory profit after tax was 1.6 billion. equating to a return on tangible equity of 17%. Within this, we delivered net income of 4.8 billion, up 9% on the previous year, and 1% higher than Q4. Income growth was driven by further progress in ...