Lloyds Banking Group plc reported on Wednesday that its net income in the three months to March 31 was at £4.7 billion, up by 15% compared with the same quarter a year before.
With an underlying profit coming in at £2.2 billion, statutory profit after tax was 46% higher than the same quarter a year earlier, at £1.6 billion. Furthermore, earnings per share rose 0.9% to 2.3p, and the CET1 ratio reached 14.1%.
"The macroeconomic outlook remains uncertain. We know that this is challenging for many people," said Charlie Nunn, Group Chief Executive. "We are also making good progress on our ambitious plans to transform the Group. Our experience over the last year reinforces our belief that continued strategic delivery will create a more sustainable business and deliver increased returns for our shareholders in the medium to longer-term."
