EQS-News

2023 Full Year Results - Seite 3

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.

2023 was a critical year in building towards the ambitious strategy we announced two years ago, as we look to grow our business and deepen relationships with our customers. As demonstrated in our recent strategic seminars, we have made significant progress and are on track to meet our 2024 and 2026 strategic outcomes, helping us build towards higher and more sustainable returns.

Our strategy is purpose-driven. Building a more sustainable and inclusive future is central to this, including our commitment to supporting the environmental transition, social housing and broader purpose-aligned objectives. We are excited about the opportunities that lie ahead as we continue to deliver for all of our stakeholders."

Charlie Nunn, Group Chief Executive

Delivering on our purpose-driven strategy, on track to meet 2024 and 2026 strategic outcomes

•  Pro-actively contacted 7.5 million customers¹ to offer support and enhance financial resilience

•  Continued strategic progress, underpinned by £1.3 billion of additional investment in 2023

•  On track to achieve 2024 strategic outcomes; c.£0.7 billion incremental income and c.£1.2 billion of gross cost savings

•  On track to achieve 2026 strategic outcome of c.£1.5 billion incremental income given progress on medium-term transformation

•  Launched innovative new propositions, including mobile-first mortgage on-boarding, 'Lloyds Bank 360' in mass affluent and a digital invoice finance platform as part of digitising the Small and Medium Businesses portfolio

•  Highlighted our progress on strategic transformation with two seminars in 2023. Two further seminars planned for the first half of 2024

•  Building on our ambition to create a more sustainable and inclusive future, with £29 billion² of sustainable financing and significant commitments for social housing