Lloyds Banking Group plc (LLOY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by, and welcome to the Lloyds Banking Group 2023 Q3 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 1 on your telephone. Please note, 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 Q3 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. We continue to make great progress on our strategy. In doing so, we are creating value for our customers and wider stakeholders, through improved propositions, targeted growth and enhanced operating leverage. In Q3, we delivered robust financial performance, supported by healthy growth across the business, driving continued income momentum. We maintained our cost discipline and strong asset quality, reflecting stable credit performance in the period. Taken together, this is driving strong capital generation. As you know, in the third quarter, we've taken an £800 million additional charge relating to the FCA consultation process on motor commissions. Clearly, we're disappointed by this outcome, and I'll talk more about it later in the presentation. Accordingly, we've revised our 2025 guidance to reflect the motor provision. Excluding the charge, we are beating our prior targets. We remain highly confident in our 2026 guidance. Before turning to our financials, a brief update on two important strategic developments. Firstly, I'm delighted to say that we have compl...