Lloyds Continues to Build Capital on Solid Operational Performance
Higher restructuring charges in the third quarter of GBP 235 million versus GBP 148 million last year meant that profit before tax fell 7% to GBP 1.4 billion for Lloyds despite an operationally solid quarter. Income generation increased 1% year over year, owing to a slightly higher net interest margin offsetting lower interest-earning assets. The cost/income ratio improved to 44.7% from 46% last year, although including remediation costs weakens this metric to 47.1%. In total, return on tangible...
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