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Lloyds Bank half-year profits jump 23%. 112.20p. 11:45 30/07/26. Lloyds Bank held annual guidance after a 23% jump in half-year profits driven by higher net interest income and announced a £1bn share buyback. 9,610.44. 10,920.30. 5,930.07. 5,863.59. Pre-tax profit rose to £4.3bn in the six months to June 30 benefiting from higher total income and controlled costs, which were partially offset by higher charges for operating lease depreciation and impairment, Lloyds said on Thursday. The bank added that it would now will target a return on tangible equity of around 20% by 2030, with plans to expand its core retail banking business and use artificial intelligence to produce around £2bn in cost savings, although it did not say whether this would involve job losses. Underlying net interest income rose 9% to £7.3bn, supported by a higher banking net interest margin of 3.19% as structural hedge income increased and average interest-earning assets grew 4% to £475.7bn. Lloyds said this was partly offset by ongoing asset margin compression. Underlying other income climbed 11% to £3.3bn, driven by stronger customer activity and continued benefits from strategic initiatives across Retail, Commercial Banking and Insurance, Pensions & Investments. Operating lease depreciation increased 18% to £841m, reflecting a second-quarter charge linked to falling used-car prices, alongside fleet growth and the depreciation of higher-value vehicles. The bank said this impact was partly mitigated by ongoing risk-management actions. Credit performance remained "strong and stable", with an underlying impairment charge of £617m, equivalent to an asset-quality ratio of 25 basis points. This included an £80m net charge from updated economic scenarios, compared with a small credit a year earlier. Reporting by Frank Prenesti for Sharecast.com

Lloyds Bank has unveiled a £2bn cost-cutting programme using artificial intelligence as part of its new "Accelerate 2030" strategy. The UK's largest lender plans to deploy AI "agents" to transform customer service and boost productivity, though it hasn't specified how many jobs might be affected. The bank reported pre-tax profits of £4.3bn for the first half of 2026, up 23% year-on-year, helped by higher interest rates. Chief executive Charlie Nunn said at least 50% of AI implementation would focus on customer service improvements, whilst the remainder would help staff work more effectively. Lloyds already uses AI for processing complaints, which delivered £50m in benefits last year. The bank expects an additional £100m benefit this year. Alongside the AI initiative, Lloyds announced £13bn investment in digital systems and new wallet apps.

Barclays profit up 17% on equities boom, but shares fall as costs set to rise. Tue, 28th Jul 2026 09:02 * Barclays announces £1 billion share buyback, above forecasts * Bank lifts income guidance to £31.5 billion from £31 billion * Investment bank second-quarter income £4 billion, above forecast LONDON, July 28 (Reuters) - Barclays' first half profits rose by a better than expected 17% as it reaped bumper equities trading revenues from volatile markets, although its shares dropped on Tuesday in a sign of high investor expectations for British banks. Profit before tax for the January to June period of £6.1 billion ($8.11 billion) was just above forecasts of about £5.94 billion, but Barclays shares fell nearly 5% as analysts said its equities performance undershot market expectations boosted by Wall Street rivals' bumper quarter. Barclays, whose stock price has risen nearly 50% in the last year, also announced a fresh share buyback of £1 billion, above forecasts for £831 million, and dividends worth £800 million as it returns excess capital to shareholders. The bank's performance was also tarnished by an additional £500 million in expected costs for the second half of the year, which it said included streamlining efforts. "We anticipate spending up to £300 million in structural cost actions, directly related to making the organisation simpler, such as platform change processes," Chief Financial Officer Anna Cross told reporters on a conference call. INVESTMENT BANK STRONG, BUT STILL LAGS WALL STREET Barclays also slightly upgraded its income guidance for the year from £31 billion to £31.5 billion and said it was on track to meet its performance goals for 2026. Barclays' investment bank, which differentiates it from domestic-focused UK rivals such as Lloyds and NatWest, delivered total income of £4 billion in the second quarter of the year compared with analysts' forecasts for £3.7 billion. Revenues from equities rose 45% in the quarter compared with the same period last year, Barclays said. That lagged Wall Street rivals which were up an average 69% in equities, aided by the SpaceX IPO that helped supercharge earnings. Barclays also logged a disappointing 1% gain in fixed income trading, its traditional strength, against a 13% average rise for the top five U.S. banks, a Reuters calculation showed. Volatility in financial markets triggered by the Iran war has driven a trading frenzy that has boosted banks' revenues, while blockbuster M&A deals and IPOs have fuelled fees. BANKS BRACE FOR LATEST LEADER'S POLICIES Barclays is the first big British bank to report earnings this week, as the country's lenders warily eye Andy Burnham, the country's seventh prime minister in the last decade. Having reaped record profits in recent years, banks have been concerned the left-leaning leader might hike taxes on them. They received a boost on Friday, however, when Reuters reported Burnham's administration is likely to preserve the previous one's pro-growth approach to financial services. Shares in this article. 503.20 -5.13%