Lloyds reports first-half profit up 23%, outlines new strategy
30/07/2026 07:22
Lloyds reports first-half profit up 23%, outlines new strategy LONDON, July 30 (Reuters) - Lloyds Banking Group LLOY.L reported a better than expected statutory pretax profit of £4.3 billion for the first half of 2026, as CEO Charlie Nunn also outlined the lender's new three-year strategic plan.
The result was above an average analyst forecast of £4.12 billion and the bank's £3.5 billion profit in the same period last year.
The bank will target a return on tangible equity of around 20% in 2030, it said, outlining a strategy to grow its core retail banking business and harness AI to deliver around £2 billion in cost savings.
(Reporting by Lawrence White, Editing by Louise Heavens)
((lawrence.white@tr.com; +44 7788 366940))
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