Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: UK£0.024 (vs UK£0.017 in 1Q 2025) First quarter 2026 results: EPS: UK£0.024 (up from UK£0.017 in 1Q 2025). Revenue: UK£4.89b (up 12% from 1Q 2025). Net income: UK£1.41b (up 41% from 1Q 2025). Profit margin: 29% (up from 23% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 02
Upcoming dividend of UK£0.024 per share Eligible shareholders must have bought the stock before 09 April 2026. Payment date: 19 May 2026. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.9%). Recent Insider Transactions • Mar 12
Insider recently sold €1.2m worth of stock On the 6th of March, Andrew Walton sold around 1m shares on-market at roughly €1.12 per share. This transaction amounted to 55% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.9m more than they bought in the last 12 months. Declared Dividend • Feb 01
Final dividend of UK£0.024 announced Shareholders will receive a dividend of UK£0.024. Ex-date: 9th April 2026 Payment date: 19th May 2026 Dividend yield will be 3.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (52% payout ratio) and is expected to be covered in 3 years' time (39% forecast payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Jan 29
Lloyds Banking Group plc, Annual General Meeting, May 14, 2026 Lloyds Banking Group plc, Annual General Meeting, May 14, 2026. Ankündigung • Dec 17
Lloyds Banking Group PLC Announces Executive Changes Lloyds Banking Group has appointed Amanda Murphy as Chief Executive Officer of Business Commercial Banking (BCB), the Group's business unit that serves all micro, small and medium sized businesses as they start up, grow and thrive. The appointment, which is subject to regulatory approval, follows Elyn Corfield's decision to leave the Group in 2026 to take a period of family time after nearly nine years with Lloyds Banking Group. Amanda Murphy will join the Group in February 2026. She was most recently Co-Head of Commercial Banking Asia and Head of Commercial Banking for South Southeast Asia at HSBC, based in Singapore. Prior to this, she held various senior positions throughout HSBC's UK Commercial and Business Banking business between 2013 and 2021, holding the position of Head of Commercial Banking UK between 2017 and 2021. New Risk • Dec 12
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €874k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€874k sold). Ankündigung • Nov 19
Lloyds Banking Group plc (LSE:LLOY) agreed to acquire Curve UK Limited. Lloyds Banking Group plc (LSE:LLOY) agreed to acquire Curve UK Limited on November 19, 2025. The transaction is not expected to have a material impact on the Group, or to impact full year guidance for 2025 or 2026. The transaction is subject to regulatory approval and is expected to close in the first half of 2026. Ankündigung • Nov 14
Lloyds Announces Stepdown of Jo Harris as CEO of the Group’s Mass Affluent Proposition Quilter is shaping its executive team for the new year with two senior appointments to the committee. Jo Harris will join the firm in January 2026 in the newly created role of chief customer officer, where she will be tasked with evolving Quilter’s proposition using technology and automation. Harris joins the firm following an 11-year career at Lloyds Bank, having stepped down from her position as CEO of the group’s mass affluent proposition in June. Before this, she was head of telephone and internet banking at Royal Bank of Scotland. Ankündigung • Oct 24
Lloyds Banking Group plc Provides Earnings Guidance for the Fiscal Year 2025 Lloyds Banking Group plc provided earnings guidance for the fiscal year 2025. The company now expects net interest income for the full year to be circa GBP 13.6 billion slightly ahead of previous guidance. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: UK£0.01 (vs UK£0.02 in 3Q 2024) Third quarter 2025 results: EPS: UK£0.01 (down from UK£0.02 in 3Q 2024). Revenue: UK£4.69b (up 5.9% from 3Q 2024). Net income: UK£618.0m (down 49% from 3Q 2024). Profit margin: 13% (down from 27% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Oct 13
Lloyds Banking Group plc Announces Scott Wheway Stepping Down as Non-Executive Director, Effective October 31, 2025 Lloyds Banking Group plc announced that Scott Wheway will step down as a Non-Executive Director and as Chair of Scottish Widows Group with effect from 31 October 2025. Scott, who is also a member of the LBG Board Risk Committee and Nomination and Governance Committee, is leaving to take up the position of Chair at Legal & General Group Plc where he will become a Non-Executive Director from 2 January 2026. A process will be run for the next Chair of Scottish Widows Group. Chris Moulder, the Senior Independent Director of Scottish Widows Group, will take on the role of interim Chair of Scottish Widows Group subject to regulatory approval. Ankündigung • Oct 11
Lloyds Banking Group plc (LSE:LLOY) acquired remaining 49.9% stake in Scottish Widows Schroder Personal Wealth Limited from Schroders plc (LSE:SDR). Lloyds Banking Group plc (LSE:LLOY) acquired remaining 49.9% stake in Scottish Widows Schroder Personal Wealth Limited from Schroders plc (LSE:SDR) on October 9, 2025. Lloyds Banking Group has acquired the remaining 49.9% of share capital from Schroders in exchange for its 19.1% stake in Cazenove Capital. The transaction involved no cash consideration. Scottish Widows Schroder Personal Wealth Limited will be rebranded as Lloyds Wealth.
After this transaction Schroders will continue to manage Schroders Personal Wealth's customer assets and the existing Scottish Widows mandate as part of a multi-year agreement. In addition, Lloyds Banking Group will continue to partner with Cazenove Capital to offer services to its high net worth customers.
Lloyds Banking Group plc (LSE:LLOY) completed the acquisition of remaining 49.9% stake in Scottish Widows Schroder Personal Wealth Limited from Schroders plc (LSE:SDR) on October 9, 2025. Ankündigung • Sep 16
Lloyds Appoints Joe Mellings as Head of Real Estate Coverage Lloyds has hired a former Barclays banker as its new head of real estate coverage. Joe Mellings will lead a coverage team of relationship directors across the UK, supported by associates and associate directors, reporting to Jess Tomlinson, global head of real estate and housing. Mellings has worked in corporate banking for more than 15 years and most recently held senior roles at Barclays across real estate, mid-market, leveraged finance and large-cap corporate segments in the UK and Ireland. Ankündigung • Aug 04
Lloyds Banking Group plc Provides Motor Finance Update Lloyds Banking Group plc announced that further to the Supreme Court's judgment on the appeal against the Court of Appeal's decision in Wrench, Johnson and Hopcraft, which was handed down last August 2025, the Group has undertaken an initial assessment of the impact of the judgment. The judgment overturned the Court of appeal in relation to fiduciary duties and bribery by determining that motor dealers acting as credit brokers do not owe fiduciary duties to their customers and that the payment of commission in this context could not constitute a bribe. In one of the cases before it (Johnson), the Supreme Court considered whether an unfair relationship had arisen between the lender and the borrower for the purposes of the Consumer Credit Act 1974. The Supreme Court confirmed that the test for unfairness was highly fact-sensitive and required consideration of all relevant matters. It determined that there was unfairness in the case of Mr. Johnson and awarded a refund of the commission paid plus interest at a commercial rate to remedy that unfairness. As previously stated, in establishing the existing provision the Group created a range of scenarios to address uncertainties around a number of key assumptions. These included a range of potential Supreme Court outcomes, regulatory responses and outcomes in relation to compensation. Whilst the judgment announced on 1 August provides additional clarity, there remain a number of uncertainties that the Group continues to consider in its approach to provisioning. The Group's approach therefore continues to include the assessment of multiple scenarios. The FCA announced that it will publish a consultation on an industry wide compensation scheme by early October. The FCA will propose that the scheme covers discretionary commission arrangements (DCA) and will consult on which non-DCA arrangements should be included. The FCA outlined certain other factors on which they will consult. The ultimate impact on the Group will be determined by a number of factors still to be resolved, in particular the outcome of the FCA consultation and any further interventions as well as any broader implications of the judgment, including legal proceedings and complaints. After initial assessment of the Supreme Court judgment, and pending resolution of the outstanding uncertainties, in particular the FCA compensation scheme, the Group currently believes that if there is any change to the provision it is unlikely to be material in the context of the Group. The provision will continue to be reviewed for any further information that becomes available, with an update provided as and when necessary. As stated in the recent half year results, the Group has continued to perform in line with guidance. The Group delivered sustained strength in financial performance with continued income growth, cost control, resilient asset quality and strong capital generation of 86bps in the first half of 2025. Declared Dividend • Jul 27
First half dividend of UK£0.012 announced Shareholders will receive a dividend of UK£0.012. Ex-date: 31st July 2025 Payment date: 9th September 2025 Dividend yield will be 4.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (50% payout ratio) and is expected to be covered in 3 years' time (35% forecast payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2025 earnings released: EPS: UK£0.021 (vs UK£0.017 in 2Q 2024) Second quarter 2025 results: EPS: UK£0.021 (up from UK£0.017 in 2Q 2024). Revenue: UK£4.56b (up 2.6% from 2Q 2024). Net income: UK£1.27b (up 18% from 2Q 2024). Profit margin: 28% (up from 24% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Jul 23
Lloyds Banking Group plc (LSE:LLOY) agreed to acquire Curve UK Limited for approximately $160 million. Lloyds Banking Group plc (LSE:LLOY) agreed to acquire Curve UK Limited for approximately $160 million on July 21, 2025. A cash consideration of $161.2 million will be paid by Lloyds Banking Group plc. As part of consideration, $161.2 million is paid towards common equity of Curve UK Limited. Ankündigung • Jun 05
Lloyds Banking Group plc Announces Appointment of Chris Vogelzang as an Independent Non-Executive Director and Member of the Responsible Business Committee, Effective June 16, 2025 Lloyds Banking Group plc announced the appointment of Chris Vogelzang as an independent Non-Executive Director and a member of the Responsible Business Committee, effective June 16, 2025. Chris has extensive experience in retail and commercial banking, with a strong understanding of technology's role in financial services and a track record of driving transformation within organizations. He served as Chief Executive Officer of Danske Bank A/S from 2019 until 2021 and held several senior positions at ABN AMRO between 2000 and 2016, including Managing Board member with responsibility for Retail and Private Banking, Chief Executive Officer of Retail Banking for The Netherlands, and Chief Executive Officer of Global Private Banking. Chris is currently a Non-Executive Director and a member of the Audit Committee of Wolters Kluwer N.V., listed on Euronext Amsterdam, and a senior advisor (financial services) to Boston Consulting Group and The Blackstone Group. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: UK£0.017 (vs UK£0.017 in 1Q 2024) First quarter 2025 results: EPS: UK£0.017 (in line with 1Q 2024). Revenue: UK£4.39b (up 1.2% from 1Q 2024). Net income: UK£1.01b (down 5.9% from 1Q 2024). Profit margin: 23% (down from 25% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 03
Upcoming dividend of UK£0.021 per share Eligible shareholders must have bought the stock before 10 April 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 4.5%. Within top quartile of German dividend payers (4.4%). Lower than average of industry peers (5.8%). Recent Insider Transactions • Mar 26
Group Chief Risk Officer recently sold €1.9m worth of stock On the 21st of March, Stephen Shelley sold around 2m shares on-market at roughly €0.84 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.9m more than they bought in the last 12 months. Ankündigung • Feb 27
Loyds Banking Group Announces the Appointment of Natasha Sayce-Zelem as the New Director of Digital and Business Platform Across Their Homes Business Lloyds Banking Group has announced the appointment of Natasha Sayce-Zelem as the new Director of Digital and Business Platform across their Homes business. Natasha joins the Group from Amazon, where she served as the Global Head of Partner Engineering for Prime Video for the past four years. In her new role Natasha will be responsible for re-imagining and digitising the mortgage processes across Lloyds' brands and channels to make the experience work better for customers whether they are buying, improving, or remortgaging their home. She will be based in the Group's Leeds, Wellington Place offices and reports to Group Mortgage Director, Andrew Asaam. With over 18 years of digital experience, Natasha brings a wealth of expertise in technology transformations. Her impressive career includes over five years at Sky, where she was part of the senior leadership team that set up Sky's digital hub in Leeds, building a team of 650 staff within 18 months. As Head of Technology, she oversaw Sky's digital trading and customer service platforms; driving a digital transformation that enabled Sky's customers across EMEA to self-serve online. She also spent notable time at the BBC, where she managed the digital transformation of BBC Sport's online platforms. Recognised as a prominent role model in the technology sector, Natasha has been named among the 'Top 50 most influential women in tech worldwide'. She is the founder of the award-winning initiative 'Empowering Women with Tech,' that supports women and underrepresented groups into STEM through mentorship and high-profile events. Ankündigung • Feb 24
Lloyds Banking Group plc (LSE:LLOY) announces an Equity Buyback for £1,700 million worth of its shares. Lloyds Banking Group plc (LSE:LLOY) announces a share repurchase program. Under the program, the company will repurchase up to £1,700 million worth of its shares. The purpose of the program is to reduce the share capital of the company. All the repurchased shares will be cancelled. The buyback is subject to the continuing approval of the Prudential Regulatory Authority. The program will end no later than December 31, 2025. Declared Dividend • Feb 23
Final dividend of UK£0.021 announced Shareholders will receive a dividend of UK£0.021. Ex-date: 10th April 2025 Payment date: 20th May 2025 Dividend yield will be 4.1%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (50% payout ratio) and is expected to be covered in 3 years' time (43% forecast payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: UK£0.063 (vs UK£0.076 in FY 2023) Full year 2024 results: EPS: UK£0.063 (down from UK£0.076 in FY 2023). Revenue: UK£17.6b (down 4.6% from FY 2023). Net income: UK£3.92b (down 21% from FY 2023). Profit margin: 22% (down from 27% in FY 2023). The decrease in margin was primarily driven by lower revenue. Net interest margin (NIM): 2.95% (down from 3.11% in FY 2023). Cost-to-income ratio: 60.4% (up from 54.7% in FY 2023). Non-performing loans: 1.44% (down from 1.53% in FY 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Feb 21
Lloyds Banking Group plc, Annual General Meeting, May 15, 2025 Lloyds Banking Group plc, Annual General Meeting, May 15, 2025. Ankündigung • Feb 05
Lloyds Banking Group plc to Report Fiscal Year 2024 Results on Feb 20, 2025 Lloyds Banking Group plc announced that they will report fiscal year 2024 results on Feb 20, 2025 Ankündigung • Feb 03
Lloyds Appoints Magdalena Lis as Head of Responsible AI Lloyds Banking Group has announced that it has appointed a head for responsible AI. The firm has appointed Dr. Magdalena Lis to the position. She will lead responsible development and use of AI across the group. She joins from Toyota Connected Europe, Japanese car company, Toyota's technology solutions unit. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: UK£0.019 (vs UK£0.02 in 3Q 2023) Third quarter 2024 results: EPS: UK£0.019 (down from UK£0.02 in 3Q 2023). Revenue: UK£4.43b (flat on 3Q 2023). Net income: UK£1.63b (down 1.7% from 3Q 2023). Profit margin: 37% (in line with 3Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Board Change • Aug 01
High number of new directors Non-Executive Director Nathan Bostock was the last director to join the board, commencing their role in 2024. Declared Dividend • Jul 28
First half dividend of UK£0.011 announced Shareholders will receive a dividend of UK£0.011. Ex-date: 1st August 2024 Payment date: 10th September 2024 Dividend yield will be 4.5%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (41% payout ratio) and is expected to be well covered in 3 years' time (50% forecast payout ratio). The dividend has increased by an average of 16% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: UK£0.017 (vs UK£0.015 in 2Q 2023) Second quarter 2024 results: EPS: UK£0.017 (up from UK£0.015 in 2Q 2023). Revenue: UK£4.45b (up 9.0% from 2Q 2023). Net income: UK£1.08b (up 14% from 2Q 2023). Profit margin: 24% (in line with 2Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Ankündigung • Jul 06
Lloyds Banking Group plc Appoints Nathan as Non-Executive Director on 1 August 2024, Member of the Board Risk Committee and Become Member of the Audit Committee on 1 October 2024 Lloyds Banking Group plc announced that following the announcement made on 22 February 2024 and regulatory approval of Nathan Bostock's appointment as Chair of Lloyds Bank Corporate Markets plc, Lloyds Banking Group announced that, when he joins the Group as a non-executive director on 1 August 2024, Nathan will become a member of the Board Risk Committee on that date. Nathan will become a member of the Audit Committee on 1 October 2024. Ankündigung • Jul 02
Lloyds Banking Group Appoints Khadija Ali as Group Director of Sustainability and Responsible Business Lloyds Banking Group has appointed Khadija Ali as Group Director, Sustainability and Responsible Business. In the newly created role, Khadija will be responsible for leading the Group's Social Sustainability and Environmental Sustainability teams. Khadija will report into the Group's Chief Sustainability Officer, Andrew Walton. Khadija is a recognised sustainability leader with extensive experience and a deep understanding of the critical role financial services play in building a more sustainable and inclusive society. Khadija joins from EY where she led the UK Climate Change and Sustainability Services practice and advised global financial institutions on sustainability-focused strategic initiatives, including target setting, climate transition planning, commercial strategy, responsible business, and disclosures. She returns to the Group having served as the interim Director of Environmental Sustainability between 2021 - 2022. As Group Director of Sustainability and Responsible Business, Khadija will further strengthen and lead the delivery of the Group's sustainability strategy. Khadija will work across the business to further integrate sustainability outcomes into business priorities, to help deliver on net zero ambitions and enable to maximise the growth opportunities of building a more sustainable and inclusive society. From July 1, 2024, Andrew and Khadija will both join the newly elected Net Zero Banking Alliance (NZBA) Steering Group, following the recent member election. They will work with industry peers on the delivery of the NZBA's global commitments to help accelerate the journey to net zero by 2050, or sooner. Buy Or Sell Opportunity • May 29
Now 22% undervalued Over the last 90 days, the stock has risen 21% to €0.66. The fair value is estimated to be €0.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has declined by 32%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 4.9% per annum over the same time period. Ankündigung • May 18
Lloyds Banking Group plc Approves Final Dividend Lloyds Banking Group plc at the AGM held on May 16, 2024 approved the final dividend of 1.84 pence per ordinary share. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: UK£0.017 (vs UK£0.023 in 1Q 2023) First quarter 2024 results: EPS: UK£0.017 (down from UK£0.023 in 1Q 2023). Revenue: UK£4.33b (down 5.1% from 1Q 2023). Net income: UK£1.07b (down 34% from 1Q 2023). Profit margin: 25% (down from 36% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Ankündigung • Apr 19
Lloyds Banking Group plc Appoints Linda Weston as Head of Commercial Cards Lloyds Bank has announced the appointment of a head of commercial cards. The firm has announced the appointment of Linda Weston to the position. This is a newly created position at the firm. Weston has more than 25 years of experience in the cards and payments industry. New Risk • Apr 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Apr 04
Upcoming dividend of UK£0.018 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.4%). New Risk • Mar 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: UK£0.076 (vs UK£0.073 in FY 2022) Full year 2023 results: EPS: UK£0.076. Revenue: UK£18.3b (up 6.6% from FY 2022). Net income: UK£4.93b (down 1.8% from FY 2022). Profit margin: 27% (down from 29% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Ankündigung • Feb 22
Lloyds Banking Group plc Announces Director Changes Lloyds Banking Group plc announced that Alan Dickinson, having served nine years as a non-executive director as of September 2023, has informed the Board that he intends to step down as Deputy Chair and a non-executive director of the Group at its 2024 annual general meeting. The Group to announce that Nathan Bostock will be appointed a non-executive director of the Group and, subject to regulatory approval, Chair of Lloyds Bank Corporate Markets plc, in each case with effect from 1 August 2024. Nathan was Chief Executive Officer of Santander UK from 2014 until 2022. Prior to joining Santander, Nathan was an executive director andGroup Chief Financial Officerof The Royal Bank of Scotland plc ("RBS") and previously held the post of Chief Risk Officer at RBS. Nathan Bostock was Chief Executive Officer of Santander UK from 2014 until 2022 and then Head of Investment Platforms at Banco Santander until his retirement from Santander last year. Prior to joining Santander, Nathan was an executive director andGroup Chief Financial Officerof RBS and previously held the post of Chief Risk Officer at RBS. Before joining RBS, Nathan was an executive director of Abbey National plc (now Santander UK) from 2005 until 2009. He held a number of senior positions at Abbey National plc including CEO - Financial Markets and Corporate Banking, CEO - Financial Markets and Portfolio Business Unit and Chief Operating Officer - Abbey National Treasury Services. Ankündigung • Feb 15
Lord Lupton Intends to Step Down as a Non-Executive Director of the Lloyds Banking Group plc Lloyds Banking Group plc announced that Lord Lupton has informed the Board that he intends to step down as a non-executive director of the Group at its 2024 annual general meeting having served almost seven years on the Board. Ankündigung • Jan 26
Lloyds Banking Group plc Announces Board Committee Change, with Effect from 1 February 2024 Lloyds Banking Group plc announced that Cathy Turner, Senior Independent Director and Chair of the Remuneration Committee, has been appointed as a member of the Board Risk Committee with effect from 1 February 2024. Ankündigung • Dec 18
Lloyds Banking Group plc Appoints Amanda Mackenzie as Member of the Audit Committee, Effective1 January 2024 Lloyds Banking Group plc announced that Amanda Mackenzie, an independent non-executive director and Chair of the Responsible Business Committee, has been appointed as a member of the Audit Committee with effect from 1 January 2024. Ankündigung • Dec 01
Lloyds Prepares Bid to Buy Tesco Bank as Supermarket Moves to Offload Lending Unit Lloyds Banking Group plc (LSE:LLOY) has emerged as a possible suitor for Tesco Personal Finance plc as the supermarket chain pushes on with plans to offload its lending unit. Lloyds' rival Barclays PLC (LSE:BARC) has also been linked with a bid for the unit, which offers credit cards, loans and insurance products rather than traditional current accounts and is not seen in the bracket of a traditional challenger bank. The bank also owns an insurance underwriter that could be sold as part of the deal. The supermarket launched a review of its banking operations in February, hiring Goldman Sachs to consider options and sound out bids for the company. Due to the varied nature of Tesco Bank's products, a buyer could also choose to hive off parts of the business or form a joint venture. Any purchase by Lloyds would be seen as a bolt-on deal rather than transformative, given the relatively small size of Tesco's operations. Lloyds has made a number of small takeovers in recent years to bolster its offering, including buying Embark and Tusker. Buyers may be attracted by the potential to acquire Tesco's financial services customers and cross sell other financial products to them. New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: UK£0.02 (vs UK£0.016 in 3Q 2022) Third quarter 2023 results: EPS: UK£0.02 (up from UK£0.016 in 3Q 2022). Revenue: UK£4.42b (up 14% from 3Q 2022). Net income: UK£1.66b (up 20% from 3Q 2022). Profit margin: 38% (up from 36% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Oct 18
Barclay Family Reportedly Lines Up £1 Billion Bid for Telegraph Ahead of Auction THE Barclay family has put forward a £1 billion offer for The Telegraph to Lloyds Banking Group plc (LSE:LLOY) in the hope of regaining control of the publisher ahead of a looming auction. The family, which owned Telegraph Media Group Limited (TMG) for almost two decades, is understood to have secured financing from Abu Dhabi investors in a development first reported by Sky News. Members of the Abu Dhabi ruling family are reported to be involved in discussions, including the Manchester City Football Club majority shareholder Sheikh Mansour bin Zayed Al Nahyan. Lloyds Banking Group declined to comment. The offer is the latest attempt by the Barclays to regain control of The Telegraph, which was placed into receivership by Lloyds Bank following a dispute over unpaid debts. It comes only weeks after a proposal for £725 million was submitted. Lloyds currently owns The Telegraph but has no involvement in editorial matters. The latest bid comes ahead of the start of a planned auction for the group, which is expected to begin as soon as this week. Several bidders have already expressed an interest, including hedge fund manager and GB News owner Paul Marshall, who has lined up backing from American billionaire Ken Griffin. The Daily Mail has also expressed an interest and is said to have held discussions with investors in the Middle East about a possible bid. Others to have publicly said they are keen to bid include National World Plc (LSE:NWOR), a local newspaper and news website publisher founded by a former editor of the News of the World, and German media giant Axel Springer SE, which owns newspapers Bild and Die Welt. Axel Springer previously lost out to the Barclays in a bidding war for The Telegraph in 2004. William Lewis, a former editor of The Telegraph, has said he had also lined up funding for a potential takeover. Any deal would have to be cleared by media and competition regulators. Ankündigung • Oct 15
Lloyds Banking Group plc Appoints Suresh Balaji as Chief Marketing Officer on 16 October 2023 Suresh Balaji will join Lloyds Banking Group as Chief Marketing Officer on 16 October. The Chief Marketing Officer will oversee the group-wide Brand, Marketing and Experience function. Suresh will be responsible for creating and maintaining the Group's strong, inclusive and sustainable portfolio of brands, developing marketing strategies, driving creative excellence, and designing customer experiences to contribute to business growth. Suresh joins the Group from Standard Chartered Bank where he was Global Head of Marketing Communications, leading the function across Consumer, Private and Business Banking, based in Hong Kong. Prior to this, he spent 17 years at HSBC where he held various regional, country and global leadership roles, latterly as Chief Marketing Officer for the Asia-Pacific region. His earlier career includes marketing and sales roles at United Breweries, WPP and GSK. Ankündigung • Sep 14
Lloyds Banking Group plc Announces Board and Committee Changes Lloyds Banking Group plc announced that, having served nine years as a Non-Executive Director, Alan Dickinson will cease to be Senior Independent Director on 13 September 2023. He will continue as Deputy Chair and in other Board roles while plans for his broader succession are implemented. As part of these plans, he will also step down as both Chair and member of the Remuneration Committee on 13 September 2023. Cathy Turner will succeed Alan as Senior Independent Director and Chair of the Remuneration Committee and will become a member of the Nomination and Governance Committee, also with effect from 13 September 2023. Ankündigung • Aug 18
Lloyds Banking Group plc to Report Fiscal Year 2023 Results on Feb 22, 2024 Lloyds Banking Group plc announced that they will report fiscal year 2023 results on Feb 22, 2024 Ankündigung • Jul 27
Lloyds Banking Group plc Announces Interim Ordinary Dividend for the Half Year Ended June 30, 2023, Payable on 12 September 2023 The Board of Lloyds Banking Group plc announced an interim ordinary dividend of 0.92 pence per share, an increase of 15%, in line with the Board's commitment to capital returns. The interim dividend will be paid on 12 September 2023. Shares quoted ex-dividend for 2023 interim dividend is 3 August 2023. Record date for 2023 interim dividend is 4 August 2023. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: UK£0.015 (vs UK£0.018 in 2Q 2022) Second quarter 2023 results: EPS: UK£0.015 (down from UK£0.018 in 2Q 2022). Revenue: UK£4.08b (up 6.7% from 2Q 2022). Net income: UK£947.0m (down 12% from 2Q 2022). Profit margin: 23% (down from 28% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 22% per year. Ankündigung • Jul 07
Lloyds Banking Group Appoints Sirisha Voruganti as Chief Executive Officer and Managing Director of Lloyds Technology Centre Lloyds Banking Group appointed Sirisha Voruganti the chief executive officer and managing director of its new Lloyds Technology Centre, based in Hyderabad, India. Voruganti, a globally renowned technology and innovation leader joins from JCPenney, where she has served as the managing director and member of the Board for JCPenney in India. Sirisha Voruganti has extensive experience in IT architecture, data engineering, and fintech innovation and has held several senior technology positions in multiple global firms. She was the first woman managing director for JP Morgan Chase in Technology in India and has served as an executive vice president of architecture, data and shared services for Mastercard. Voruganti is passionate about building a high-performing engineering organisation as well as being committed to promoting diversity and inclusion within technology roles. Her track record includes steering organizations through significant transformation and she is the creato of India's first safety device for women's protection. Sirisha Voruganti will assume her role as CEO and Managing Director of Lloyds Technology Centre later this month, overseeing its establishment and longer-term growth strategy. Ankündigung • May 19
Lloyds Banking Group plc Declares Final Dividend Lloyds Banking Group plc declared a final dividend of 1.60 pence per ordinary share. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: UK£0.023 (vs UK£0.015 in 1Q 2022) First quarter 2023 results: EPS: UK£0.023 (up from UK£0.015 in 1Q 2022). Revenue: UK£4.57b (up 15% from 1Q 2022). Net income: UK£1.51b (up 28% from 1Q 2022). Profit margin: 33% (up from 30% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 06
Now 20% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be €0.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 0.9% per annum over the same time period. Upcoming Dividend • Apr 06
Upcoming dividend of UK£0.016 per share at 4.9% yield Eligible shareholders must have bought the stock before 13 April 2023. Payment date: 23 May 2023. Payout ratio is a comfortable 33% and the cash payout ratio is 84%. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.2%). Recent Insider Transactions • Mar 26
Key Executive recently bought €156k worth of stock On the 22nd of March, Charles Nunn bought around 285k shares on-market at roughly €0.55 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Charles' only on-market trade for the last 12 months. Buying Opportunity • Mar 15
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €0.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings is also forecast to grow by 0.4% per annum over the same time period. Recent Insider Transactions • Feb 28
Insider recently sold €2.4m worth of stock On the 24th of February, Stephen Shelley sold around 4m shares on-market at roughly €0.59 per share. This transaction amounted to 94% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €8.3m more than they bought in the last 12 months. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: UK£0.073 (vs UK£0.075 in FY 2021) Full year 2022 results: EPS: UK£0.073 (down from UK£0.075 in FY 2021). Revenue: UK£16.7b (down 2.6% from FY 2021). Net income: UK£5.02b (down 6.2% from FY 2021). Profit margin: 30% (down from 31% in FY 2021). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Ankündigung • Feb 17
Lloyds Bank Appoints Tim Biddle as New Head of Invoice and Asset Finance Sales Lloyds Bank Business & Commercial Banking has strengthened its Specialist Client Solutions team with the appointment of Tim Biddle as head of invoice finance and asset finance field sales. Tim will be responsible for helping to shape the execution of Lloyds Bank's Invoice Finance & Asset Finance sales strategy, and will lead its UK-wide team as they deliver invoice and asset finance products that enable firms to drive growth by quickly freeing-up working capital and funding new business-critical assets. He joins from Paragon Bank, where he served as commercial director for SME lending, responsible for strategic initiatives including new product development and growth in new markets. Prior to this, he was Paragon's asset finance sales director, leading the bank's broker, aviation receivables and invoice finance sales teams nationwide. He has previously held senior asset finance and invoice finance roles at Aldermore Bank and Siemens Financial Services. In his new role, Tim will report to Ben Stephenson, managing director and head of specialist client solutions, Lloyds Bank Business & Commercial Banking, and be based in London. Ankündigung • Jan 25
Lloyds Bank Appoints Maria Shaw as Head of Card Payments and Sales Lloyds Bank has appointed a head for card payments and sales. The company said that it has enhanced its Transaction Banking Solutions team with the appointment of Maria Shaw as MD, head of Card Payments. Shaw is joining the firm from Barclaycard, where she had been for 22 years. In her new role, Shaw will be responsible for new business and proposition enhancement for Lloyds Bank's merchant card customers. Recent Insider Transactions • Dec 23
Insider recently sold €834k worth of stock On the 16th of December, Antonio Lorenzo sold around 2m shares on-market at roughly €0.52 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.9m more than they bought in the last 12 months. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Cathy Turner was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: UK£0.016 (vs UK£0.02 in 3Q 2021) Third quarter 2022 results: EPS: UK£0.016 (down from UK£0.02 in 3Q 2021). Revenue: UK£3.86b (down 10.0% from 3Q 2021). Net income: UK£1.06b (down 34% from 3Q 2021). Profit margin: 28% (down from 37% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: UK£0.022 (vs UK£0.034 in 2Q 2021) Second quarter 2022 results: EPS: UK£0.022 (down from UK£0.034 in 2Q 2021). Revenue: UK£4.39b (down 4.2% from 2Q 2021). Net income: UK£1.39b (down 38% from 2Q 2021). Profit margin: 32% (down from 49% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 4.8%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 25
Insider recently sold €76k worth of stock On the 22nd of June, Antonio Lorenzo sold around 150k shares on-market at roughly €0.51 per share. In the last 3 months, they made an even bigger sale worth €130k. Insiders have been net sellers, collectively disposing of €925k more than they bought in the last 12 months. Recent Insider Transactions • May 29
Insider recently sold €130k worth of stock On the 20th of May, Antonio Lorenzo sold around 250k shares on-market at roughly €0.52 per share. In the last 3 months, there was an even bigger sale from another insider worth €842k. Insiders have been net sellers, collectively disposing of €1.1m more than they bought in the last 12 months. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: UK£0.075 (vs UK£0.012 in FY 2020) Full year 2021 results: EPS: UK£0.075 (up from UK£0.012 in FY 2020). Revenue: UK£17.1b (up 53% from FY 2020). Net income: UK£5.36b (up UK£4.49b from FY 2020). Profit margin: 31% (up from 7.7% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.54% (up from 2.52% in FY 2020). Cost-to-income ratio: 56.7% (up from 55.3% in FY 2020). Non-performing loans: 1.26% (no change from 1.26% in FY 2020). Over the next year, revenue is expected to shrink by 2.3% compared to a 8.1% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Harmeen Mehta was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 31
Upcoming dividend of UK£0.013 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 19 May 2022. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.7%). Lower than average of industry peers (6.1%). Recent Insider Transactions • Mar 03
Independent Chairman recently bought €283k worth of stock On the 28th of February, Robin Budenberg bought around 500k shares on-market at roughly €0.57 per share. This was the largest purchase by an insider in the last 3 months. Robin has been a buyer over the last 12 months, purchasing a net total of €545k worth in shares. Reported Earnings • Feb 25
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: UK£0.075 (up from UK£0.012 in FY 2020). Revenue: UK£17.7b (up 58% from FY 2020). Net income: UK£5.36b (up UK£4.49b from FY 2020). Profit margin: 30% (up from 7.7% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.54% (up from 2.52% in FY 2020). Cost-to-income ratio: 56.7% (down from 64.4% in FY 2020). Non-performing loans: 1.41% (up from 1.26% in FY 2020). Revenue exceeded analyst estimates by 1.5%. Over the next year, revenue is expected to shrink by 5.9% compared to a 11% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Nov 12
Insider recently sold €511k worth of stock On the 10th of November, Vimlesh Maru sold around 900k shares on-market at roughly €0.57 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.2m more than they bought in the last 12 months. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS UK£0.02 (vs UK£0.008 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: UK£4.27b (up 29% from 3Q 2020). Net income: UK£1.60b (up 133% from 3Q 2020). Profit margin: 38% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Executive Departure • Oct 07
Independent Non-Executive Director Nicholas Edward Prettejohn has left the company On the 30th of September, Nicholas Edward Prettejohn's tenure as Independent Non-Executive Director ended after 7.3 years in the role. As of June 2021, Nicholas Edward still personally held only 69.28k shares (€38k worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.17 years. Recent Insider Transactions • Sep 24
Group CFO & Executive Director recently bought €95k worth of stock On the 22nd of September, William Leon Chalmers bought around 189k shares on-market at roughly €0.50 per share. This was the largest purchase by an insider in the last 3 months. This was William Leon's only on-market trade for the last 12 months. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS UK£0.034 (vs UK£0.002 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: UK£4.67b (up 158% from 2Q 2020). Net income: UK£2.43b (up UK£2.89b from 2Q 2020). Profit margin: 52% (up from net loss in 2Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. 
