Lloyds Second-Quarter Pretax Profit Rose Ahead of Views
July 29 2021 - 2:44AM
Dow Jones News
By Sabela Ojea
Lloyds Banking Group PLC reported Thursday a rise in pretax
profit for the second quarter of 2021, surpassing market
expectations, after releasing more impairments amid an economic
recovery.
The FTSE 100-listed bank posted a pretax profit of 2.1 billion
pounds ($2.92 billion) for the period compared with a loss of
GBP676 million for the year-earlier period and a profit of GBP1.29
billion for the same period in 2019.
Lloyds was expected to post a pretax profit of GBP1.23 billion
for the period, according to its compiled consensus.
The bank released impairments of GBP333 million, up from GBP323
million in the previous quarter.
Net income rose to GBP3.90 billion from GBP3.46 billion for the
year-earlier period and GBP4.40 billion for the second quarter of
2019. Net income was anticipated to come in at GBP3.69 billion,
taken from the bank's compiled consensus.
The bank ended the period with a common equity Tier 1 ratio--a
key measure of balance-sheet strength--of 16.7% and declared an
interim dividend of 0.67 pence a share.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 29, 2021 02:34 ET (06:34 GMT)
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