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Lloyds Says It’s Poised to Beat Lending Profitability Target

By Tony Seruga

Lloyds report quarterly profit A customer enters a branch of the Lloyds TSB bank, part of the Lloyds Banking Group Plc, in London. Photographer: Chris Ratcliffe/Bloomberg

Lloyds Banking Group Plc, Britain’s biggest mortgage lender, said it will exceed its lending profitability target after first-quarter earnings beat analyst estimates. The shares jumped the most in a year.

Pretax profit before one-time items rose 21 percent to 2.2 billion pounds ($3.4 billion) from the year-earlier period, surpassing the 2 billion-pound average estimate of six analysts in a Bloomberg survey. The bank said on Friday it expects its net interest margin to exceed its 2.55 percent annual target…

Lloyds Says It’s Poised to Beat Lending Profitability Target

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