by Amruth Sundarkumar | Jul 28, 2022 | Banks, Global
Britain’s Lloyds Bank reported a 2.9% increase in underlying profit to £1.9bn ($2.3bn) for the quarter ended June. Underlying net interest income rose 16% YoY to £3.2bn ($3.9bn), which was above analyst expectations of £3bn ($3.6bn). This was slightly offset by...
by Amruth Sundarkumar | Jul 20, 2022 | Banks, Credit Ratings
Lloyds Banking Group’s senior unsecured debt ratings were cut to A3 from A2, and its subordinated debt ratings to Baa1 from A3 by Moody’s. The issuer-level ratings and its senior secured ratings were affirmed. The downgrade of its unsecured and...
by Amruth Sundarkumar | Feb 25, 2022 | Banks
Lloyds Bank reported reported lower than expected profit in Q4 2021 with one-time charges hitting its earnings. Profit before tax rose 22% YoY to £968mn ($1.3bn) below analyst expectations of £1.4bn ($1.9bn). This was impacted by restructuring costs of £570mn ($764mn)...
by Amruth Sundarkumar | Nov 1, 2021 | Banks
Lloyds Bank reported profit after taxes of £1.6bn ($2.2bn), up 2.3x YoY. Net income jumped 20% YoY to £4.1bn ($5.6bn) benefiting from “increased average interest-earning assets”. Banking net interest margins (NIM) stood at 2.55%, up 13bp YoY with its...
by bondevalue | May 20, 2021 | Banks, Credit Ratings
Lloyds Banking Group (LBG) saw its Issuer Default Rating (IDR) and senior debt ratings downgraded to A from A+ by Fitch. Fitch said that the “downgrade of LBG’s IDR and senior debt to the level of its Viability Rating (VR), and of the Tier 2 debt, reflects our...
