Trending: Lloyds Banking Posts Reassuring 3Q Update
25 Outubro 2023 - 9:28AM
Dow Jones News
1157 GMT - Lloyds Banking Group is among the most mentioned
companies across news items over the past six hours, according to
Factiva data, after the British lender backed its net interest
margin for 2023 alongside third-quarter results. It posted a 3.08%
margin for the three months ended Sept. 30--against expectations of
3.10% and a result of 3.14% in the second quarter--and said a
similar quarterly decline is expected for the fourth quarter,
reflecting how the benefit from higher interest rates is tapering
off as they filter through to customers' deposits. After choppy
early trading--which AJ Bell attributes to lingering scepticism on
the 3.10% margin guidance amid the quarterly miss against
consensus--shares gain 1.85% to 41.33 pence, paring back losses
after readacross from peer Barclays's disappointing update on
Tuesday. Bank of America analysts say Lloyds's performance was
"reassuringly consistent", supporting the bank's strong
profitability and capital distribution outlook. "On capital return,
the stronger starting CET1 ratio, plus the pension triennial
review, seem to suggest the company could announce larger dividends
and buybacks than consensus expects with FY 2023 results," Citi
analysts write. Dow Jones & Co. owns Factiva.
(elena.vardon@wsj.com)
(END) Dow Jones Newswires
October 25, 2023 08:13 ET (12:13 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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