Lloyds Banking Group publishes UBS European Conference transcript
LYG•Lloyds CFO William Chalmers expects 2027 net interest income growth in the mid-single digits, after a 2026 forecast of modestly above £14.9 billion. The bank plans £13 billion of investment from 2027 to 2030 and targets a cost-to-income ratio below 45% and return on tangible equity of about 20% by 2030.
1. Outlook and targets
At the UBS European Conference on November 11, CFO William Chalmers said Lloyds expects net interest income growth in the mid-single digits in 2027, slowing from a 2026 forecast of modestly above £14.9 billion. Structural hedge income growth is expected to ease to about £1 billion from £1.5 billion, while asset pricing and deposit competition continue.
2. Investment plan
Lloyds’ Accelerate 2030 plan includes £13 billion of investment during 2027–2030 and targets a cost-to-income ratio below 45% by the plan’s end. Management remains confident of reaching approximately 20% return on tangible equity by 2030, with capital generation exceeding 225 basis points.
