# Lloyds Nearly Doubles Quarterly Pretax Profit as Remediation Charges Fall

The bank reported £2.332 billion in quarterly pretax profit and retained its full-year financial guidance.

By Will Langan | 24X7 News
Published: 2026-10-29T07:57:43.195Z
Updated: 2026-10-29T07:57:43.195Z
Section: Money
Format: News
Canonical: https://24x7news.us/articles/lloyds-third-quarter-results-october-29-2026

Lloyds Banking Group reported on October 29 that third-quarter statutory pretax profit rose to £2.332 billion from £1.174 billion a year earlier, an increase of 99%.

The bank’s quarterly net income rose 9% to £5.072 billion. Underlying net interest income increased 10% to £3.806 billion, while its banking net interest margin reached 3.25%, compared with 3.06% a year earlier.

Lower remediation charges contributed to the profit improvement. Those charges fell to £22 million for the quarter from £875 million a year earlier. The underlying impairment charge increased to £313 million from £176 million, according to the bank’s statement.

For the first nine months, statutory pretax profit was £6.625 billion, up 42%. Customer deposits stood at £502.8 billion at September 30, while underlying loans and advances reached £495.5 billion.

Lloyds said it remained on track for its 2026 guidance, including underlying net interest income above £14.9 billion and return on tangible equity above 16%. Those figures are management targets, rather than completed full-year results.

Sources:
Lloyds Banking Group regulatory announcement via EQS — https://www.eqs-news.com/news/corporate/2026-q3-interim-management-statement/2e0b1808-dc58-4f4a-bfa6-f11c125b25c2_en

## Sources
- Lloyds Banking Group Q3 2026 Regulatory Statement: https://www.eqs-news.com/news/corporate/2026-q3-interim-management-statement/2e0b1808-dc58-4f4a-bfa6-f11c125b25c2_en