Lloyds Banking Group has reported a net income of £4bn for the third quarter ended 30 September 2021, a 20% increase compared to £3.3bn for the corresponding quarter in 2020.
The bank reported a statutory profit before tax of £2bn for the third quarter of 2021, a 96% increase compared to £1bn for the same period in 2020.
Its total costs for the reported period were £1.9bn, which remained unchanged from the respective quarter previous year.
The financial services company reported a net interest income of £2.8bn for Q3 2021, a 9% rise compared to £2.6 for the same period last year.
Lloyds Banking Group chief executive Charlie Nunn said: “I am delighted to be introducing my first set of results as CEO of Lloyds Banking Group. It is very clear to me that the Group is a truly purpose-driven organisation with a real customer focus.
“The Group has a great franchise, an excellent digital proposition and a real depth of talent. I have been impressed with the Group’s ability to Help Britain Recover from the pandemic, its commitment to sustainability and diversity, as well as its strong risk stewardship.
“I look forward to working with all colleagues across the Group in continuing to build a resilient, stable Lloyds Banking Group and deliver sustainable, long-term returns for our shareholders, whilst meeting the needs of broader stakeholders.”
The bank reported a net income of £11.6bn for the nine months ended 30 September 2021, an 8% increase compared to £10.8bn for the same period in 2020.
It has reported a statutory profit before tax of £5.9bn for the nine months, compared to £434m for the corresponding period last year.
Lloyds Bank has reported a net interest income of £8.2bn for the nine months, a 2% increase compared to £8bn for the same period in 2020.
In July this year, the British bank agreed to acquire Embark Group, an investment and retirement platform business, for around £390m.
