Lloyds Banking Posts HY Profit

Lloyds Banking Group (LLOY.L,LYG) reported that its profit attributable to ordinary shareholders for the half-year to 30 June 2021 was 3.61 billion pounds or 5.0 pence per share compared to a loss of 234 million pounds of 0.3 pence per share in the prior year.

The latest period result included a benefit of 970 million pounds from the revaluation of deferred tax assets given the revised corporation tax rate effective from 1 April 2023, substantively enacted in the second quarter.

Profit before tax for the period was 3.91 billion pounds, compared to a loss of 602 million pounds in the previous year.

Net income of 7.564 billion pounds was up 2 per cent on the first half of 2020, with slightly lower net interest income and other income more than offset by a reduction in operating lease depreciation.

The Board has announced an interim ordinary dividend of 0.67 pence per share.

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