Lloyds Banking Group publishes Q3 2026 results sell-side roundtable transcript
LYG•Lloyds Banking Group said full-year net interest income should modestly exceed £14.9 billion, slightly below previous expectations. It expects slower net interest income growth in 2027 and said the board may consider year-end distributions using part of the Basel 3.1 capital benefit, subject to regulatory permission.
1. Income outlook
At its November 3 Q3 2026 results roundtable, Lloyds Banking Group said full-year net interest income should modestly exceed £14.9 billion, slightly below previous expectations. Net interest income growth should slow in 2027, trailing high-single-digit growth in other operating income as competition pressures lending margins.
2. Hedge and capital
Structural hedge income should exceed £8 billion, with its annual growth contribution declining to £1 billion from £1.5 billion in 2026. The board may consider using part of the Basel 3.1 capital benefit for year-end distributions, subject to regulatory permission.
