Lloyds Banking Group publishes transcript of 2026 half-year results and strategy update presentation

• Lloyds Banking Group released the transcript of its 2026 half-year results and strategy update attended by CEO Charlie Nunn and CFO William Chalmers.
• H1 statutory profit after tax GBP 3.1 billion; RoTE 17.1%; net income GBP 9.7 billion, up 9% year-on-year; operating costs GBP 4.9 billion.
• Interim dividend raised 30% to 1.58 pence per share; GBP 1 billion interim share buyback announced; pro forma CET1 ratio after distributions 13.1%.
• Accelerate 2030 targets mid-single-digit net income CAGR; cost-income ratio below 45% in 2030; RoTE about 20% in 2030; capital generation above 225 bps.
• Chalmers set a 3.5% terminal base rate assumption; hedge income seen above GBP 9 billion in 2030; Basel 3.1 to cut RWAs by GBP 6-8 billion in 2027.

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