Lloyds’ net income up 14% to £4.1B in Q4
Lloyds Banking Group plc said on Thursday that its net income grew 14% year on year to land at £4.1 billion in the fourth fiscal quarter of 2021. Underlying profit for the trimester stood at £1.8 billion and the cost to income ratio climbed to 68%. Return on tangible equity slid 3 percentage points on an annual basis to 2.9%.
For full fiscal 2021, the lender’s net income climbed 9% to £15.8 billion and earnings per share stood at 7.5 pence, up from 1.2 pence reported a year earlier.
“2021 has been a year of solid financial performance with successful strategic execution, ongoing investment and continued franchise growth,” CEO Charlie Nunn stated.
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