Lloyds Banking Group's Mixed Results Disappoint -- Market Talk

Dow Jones04-24

0718 GMT - Lloyds Banking Group's results are slightly disappointing, Citi analysts say after the lender reported first-quarter results in which it backed its 2024 guidance. Their main concern is that underlying pre-provision pretax profit is 11% below consensus, with revenue slightly lighter and costs heavier. "We take some reassurance from the reiteration of the prior 2024 cost guidance, so it appears the cost miss is mainly a timing issue on severance and due to new application approach of Bank of England levy," they write in a note. Weaker net interest income seems to be due to a larger non-banking interest expense charge and banking net interest margin is actually better, they add. Shares in London shed 2.9% and trade at 49.84 pence. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

April 24, 2024 03:21 ET (07:21 GMT)

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Their main concern is that...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4207","symbol_name":"综合性银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429648867","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429648867","pubTimestamp":1713943260,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0718 GMT - Lloyds Banking Group's results are slightly disappointing, Citi analysts say after the lender reported first-quarter results in which it backed its 2024 guidance. 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