Lloyds Banking Group has revealed its earnings jumped by a third in the first three months of 2026.<\/p>\n
The banking group reported a pre-tax profit of \u00a32 billion for January to March, up 33% compared with the same period last year.<\/p>\n
The earnings figure also came in ahead of the \u00a31.8 billion that most analysts had been forecasting.<\/p>\n
Earnings were boosted by an 8% year-on-year increase in income generated by the bank, amid growth in customer activity during the quarter, as well as a dip in its operating costs after making savings.<\/p>\n
Lloyds chief executive Charlie Nunn said the banking group\u2019s business model was \u201cresilient in the context of the current economic uncertainties\u201d.<\/p>\n
\u201cWe remain focused on supporting UK households and businesses as they look to strengthen their financial positions and achieve their goals,\u201d he said.<\/p>\n
However, new economic forecasts published by the bank reflect the possible \u201cstagflationary consequences for the global and UK economies\u201d of recent events including the war in the Middle East.<\/p>\n
Stagflation refers to rising inflation at the same time as slower economic growth.<\/p>\n
Lloyds said it was now forecasting a slower increase in gross domestic product (GDP) and a rise in the unemployment rate, higher energy prices leading to renewed inflationary pressures, and cuts to interest rates expected to be delayed until 2027.<\/p>\n
The UK unemployment rate is projected to rise to 5.6% by the second half of the year, while Consumer Prices Index (CPI) inflation could hit 3.9% by the final quarter, according to the bank\u2019s forecasts.<\/p>\n","protected":false},"excerpt":{"rendered":"Lloyds Banking Group has revealed its earnings jumped by a third in the first three months of 2026.…\n","protected":false},"author":2,"featured_media":24612,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[11028,11029,11027,11026,6540,2861,11030,5,6],"class_list":{"0":"post-24611","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"tag-banking-group","9":"tag-charlie-nunn","10":"tag-earnings-figure","11":"tag-economic-forecasts","12":"tag-economic-growth","13":"tag-lloyds-banking-group","14":"tag-pre-tax-profit","15":"tag-uk","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116486720872041176","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/24611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=24611"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/24611\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/24612"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=24611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=24611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=24611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}