Lloyds Banking Group PLC

LLOY: XLON (GBR)

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Lloyds Earnings: Another Provision for Motor Finance Probe, While Operating Performance Is Good

Niklas Kammer

Feb 20, 2025

Lloyds reported 2024 underlying profits of GBP 6.3 billion, below the GBP 6.7 billion consensus estimate collected by the bank prior to the release. The bank booked another GBP 700 million provision related to the motor finance probe currently with the Supreme Court. This drove the majority of the consensus miss, with operating performance in line with expectations. We maintain our GBX 78/$3.90 fair value estimate.

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Lloyds Banking Group PLC

Lloyds Earnings: Another Provision for Motor Finance Probe, While Operating Performance Is Good

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