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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Lloyds Banking Group    LLOY   GB0008706128

LLOYDS BANKING GROUP (LLOY)
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Lloyds Banking : Bank just misses forecasts with $2.23 billion first quarter profit

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04/25/2018 | 08:26am CEST
Customers use ATMs at a branch of Lloyds Bank in London

LONDON (Reuters) - Britain's biggest mortgage lender Lloyds Banking Group reported pre-tax profit of 1.6 billion pounds in the first quarter on Wednesday, just missing analyst expectations of 1.82 billion pounds.

LONDON (Reuters) - Britain's biggest mortgage lender Lloyds Banking Group reported pre-tax profit of 1.6 billion pounds in the first quarter on Wednesday, just missing analyst expectations of 1.82 billion pounds.

While falling short of the average of analysts forecasts based on Thomson Reuters data, the bank's profits grew by 23 percent compared with the 1.3 billion pounds it posted in the same period last year.

Chief Executive Antonio Horta-Osorio said the results demonstrated the strength of the bank's business model, and maintained his upbeat tone on the UK economy.

"The UK economy continues to be resilient, benefiting from low unemployment and continued GDP growth," he said, adding the bank had seen no deterioration in asset quality and expected this to continue throughout 2018.

Lloyds' exposure to consumers' finances via mortgages and unsecured lending like credit cards make it a bellwether for the British economy.

However, loan impairments rose to 258 million pounds over the first three months of 2018, compared with the 127 million pounds seen in the same period last year.

The bank, which laid out a fresh three-year strategy in February, also reported a common equity tier one capital ratio of 14.4 percent and took another 90 million pounds in provisions to resolve issues related to its mis-selling of payment protection insurance.

(Reporting by Emma Rumney and Lawrence White, editing by Sinead Cruise)

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Financials ( GBP)
Sales 2018 18 573 M
EBIT 2018 8 904 M
Net income 2018 4 564 M
Debt 2018 -
Yield 2018 5,46%
P/E ratio 2018 10,46
P/E ratio 2019 9,48
Capi. / Sales 2018 2,57x
Capi. / Sales 2019 2,56x
Capitalization 47 739 M
Chart LLOYDS BANKING GROUP
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Lloyds Banking Group Technical Analysis Chart | LLOY | GB0008706128 | 4-Traders
Technical analysis trends LLOYDS BANKING GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 0,76  GBP
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
António Horta-Osório Group Chief Executive Officer & Executive Director
Norman Roy Blackwell Chairman
Juan Calafat Colombás Chief Operating Officer & Executive Director
George Mark Culmer Chief Financial Officer & Executive Director
Anita Margaret Frew Senior Independent Non-Executive Director
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