Lloyds Banking Group plc reported on Thursday that its net income in the three months to December 31 was at £4.2 billion compared with the same quarter a year before. Meanwhile, on an annual basis, the bank reported net income rose by 3% to £17.9 billion.
Underlying profits for the quarter came in at £1.7 billion, while the insurance marketplace saw an increase of 11% to £7.8 billion for the year. Lloyds added that it closed the final quarter of 2023 with its earnings per share (EPS) gaining 3.6% to 50.8 pence and the 12 months to December with a jump of 2.7% in earnings per share to 7.6 pence.
"The Group delivered a robust financial performance, meeting our 2023 guidance, driven by income growth, cost discipline and strong asset quality. This performance enabled strong capital generation and increased shareholder distributions," said Charlie Nunn, Group Chief Executive.