{"id":24693,"date":"2026-04-29T08:46:25","date_gmt":"2026-04-29T08:46:25","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/24693\/"},"modified":"2026-04-29T08:46:25","modified_gmt":"2026-04-29T08:46:25","slug":"lloyds-earnings-jump-by-a-third-but-uk-economic-outlook-worsens-3","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/24693\/","title":{"rendered":"Lloyds earnings jump by a third but UK economic outlook worsens"},"content":{"rendered":"<p>    <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/04\/edd81ba0e4f9eae17596364c26ee4f85.jpeg\" alt=\"Lloyds Banking Group reported a pre-tax profit of \u00a32 billion for the first quarter of the year (Joe Giddens\/PA) (PA Archive)\" loading=\"eager\" height=\"640\" width=\"960\" class=\"yf-lglytj  loaded\"\/> Lloyds Banking Group reported a pre-tax profit of \u00a32 billion for the first quarter of the year (Joe Giddens\/PA) (PA Archive)      <\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/www.independent.co.uk\/topic\/lloyds\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Lloyds;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Lloyds&quot;}\" class=\"link \">Lloyds<\/a> Banking Group has revealed its earnings jumped by a third in the first three months of 2026.<\/p>\n<p class=\"yf-1fy9kyt\">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<p class=\"yf-1fy9kyt\">The earnings figure also came in ahead of the \u00a31.8 billion that most analysts had been forecasting.<\/p>\n<p class=\"yf-1fy9kyt\">Lloyds Banking Group&#8217;s pre-tax profit in first quarter of 2026&#8243; data-source=&#8221;&#8221;&gt;<\/p>\n<p class=\"yf-1fy9kyt\">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<p class=\"yf-1fy9kyt\">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<p class=\"yf-1fy9kyt\">\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<p class=\"yf-1fy9kyt\">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 <a href=\"https:\/\/www.independent.co.uk\/topic\/middle-east\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Middle East;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Middle East&quot;}\" class=\"link \">Middle East<\/a>.<\/p>\n<p class=\"yf-1fy9kyt\">Stagflation refers to rising inflation at the same time as slower economic growth.<\/p>\n<p class=\"yf-1fy9kyt\">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<p class=\"yf-1fy9kyt\">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 reported a pre-tax profit of \u00a32 billion for the first quarter of the year (Joe&hellip;\n","protected":false},"author":2,"featured_media":24694,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[11028,11027,11026,3692,2861,11030,5,6],"class_list":{"0":"post-24693","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"tag-banking-group","9":"tag-earnings-figure","10":"tag-economic-forecasts","11":"tag-lloyds","12":"tag-lloyds-banking-group","13":"tag-pre-tax-profit","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116487125915865930","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/24693","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=24693"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/24693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/24694"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=24693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=24693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=24693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}