Lloyds Banking Group Publishes UBS European Conference Transcript

PUBT · 17h ago
Lloyds Banking Group Publishes UBS European Conference Transcript
  • Lloyds CFO William Chalmers addressed the UBS European Conference on November 11, 2026, alongside moderator Jason Napier, UBS’s European banks research head.
  • Chalmers expects 2027 net interest income growth in the mid-single digits, slowing from 2026’s forecast of modestly above £14.9 billion.
  • Structural hedge income growth should ease to about £1 billion from £1.5 billion, with asset pricing and deposit competition continuing.
  • The Accelerate 2030 plan includes £13 billion of investment during 2027–2030, targeting a cost-to-income ratio below 45% by its end.
  • Management remains confident in reaching approximately 20% return on tangible equity by 2030, with capital generation exceeding 225 basis points.


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