Lloyds Shakes Off Brexit Concern as Lending Margins Increase
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Bank’s pretax profit beats estimates as revenue rises
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Lloyds boosts 2017 guidance for lending net interest margin
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Lloyds Banking Group Plc isn’t getting bruised by Brexit so far.
Britain’s largest mortgage bank boosted its target for lending margins this year, even amid record-low U.K. interest rates introduced in the wake of the nation’s vote to leave the European Union. Net interest income rose 1 percent to 2.93 billion pounds ($3.8 billion) in the first quarter, topping most analysts’ estimates.
Lloyds has about 97 percent of its business in the U.K., tying the bank’s fortunes to the performance of the British economy as the nation negotiates its divorce from the EU. The company is expected to return to full private ownership within weeks, more than eight years after it was bailed out during the financial crisis…
Lloyds Shakes Off Brexit Concern as Lending Margins Increase
