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Lloyds first quarter profit shoots past analyst expectations

Statutory after-tax profit rose to £1.40bn from £480m

Wednesday 28 April 2021 at 07:44

Lloyds Banking Group said that its first-quarter pretax profit rose sharply and beat expectations helped by an impairments credit, and the company improved its outlook for the year.

The UK bank posted a quarterly pretax profit of £1.90bn ($2.64 billion) on 28 April. This compares with £74m a year earlier and analysts’ expectations of £1.05bn.