Lloyds expects 2026 net interest income above £14.9 billion

PUBT · 2d ago
Lloyds expects 2026 net interest income above £14.9 billion
  • Lloyds kept FY 2026 guidance for net interest income at more than GBP 14.9 billion; H1 net interest income rose 9% to GBP 7.28 billion.
  • Structural hedge income expected above GBP 7 billion in 2026; H1 structural hedge earnings were GBP 3.4 billion on a GBP 246 billion notional balance.
  • Cost outlook unchanged with a FY 2026 cost:income ratio below 50% and operating costs below GBP 9.9 billion; H1 cost:income was 50.4%.
  • Credit guidance maintained with a FY 2026 asset quality ratio around 25 bps; H1 impairment was GBP 617 million, equivalent to 25 bps.
  • Capital outlook reiterated with CET1 to be paid down to around 13% by end-2026; H1 capital generation was 108 bps, pro forma CET1 13.1%.


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