The reported performance was under pressure but underlying trends were fully in line with guidance. This shows management’s strong confidence in the group’s ability to deliver a solid performance over the next quarters in the difficult Brexit context. However, although this is reassuring, one should not draw the conclusion that the group’s profitability would be immune to an economic downturn, on the contrary.

02 May 2019
Reiterated guidance and reduced capital consumption

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Reiterated guidance and reduced capital consumption
Lloyds Banking Group plc (LLOY:LON) | 76.5 0 0.0% | Mkt Cap: 45,864m
- Published:
02 May 2019 -
Author:
David Grinsztajn -
Pages:
2 -
The reported performance was under pressure but underlying trends were fully in line with guidance. This shows management’s strong confidence in the group’s ability to deliver a solid performance over the next quarters in the difficult Brexit context. However, although this is reassuring, one should not draw the conclusion that the group’s profitability would be immune to an economic downturn, on the contrary.