2021 Lbg Hy Results Excel Download

Partial file snippet.

Sheet 1: Cover

	
	
		LLOYDS BANKING GROUP plc
	
	
		2021 HALF-YEAR RESULTS
	
	
		

	
	
		

	
	
		

	
	
		29 July 2021
	
	
		

	
	
		

	
	
		

	
	
		Excel Downloads of Relevant Tables
	



Sheet 2: Index

	
	
	
	
	
	
	
	
		

		INDEX
A FULL COPY OF THE 2021 HALF-YEAR NEWS RELEASE CAN BE FOUND AT:
https://www.lloydsbankinggroup.com/investors/financial-downloads
		

		

	
	
		

		

		

	
	
		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

	
	
		

		Income Statement - Underlying Basis
		1 
		

		Impairment Charge by Division
		23 
		

		

	
	
		

		Quarterly Information
		2 
		

		Group Expected Credit Loss Allowance
		24 
		

		

	
	
		

		Balance Sheet Analysis
		3 
		

		Reconciliation Between Statutory and Underlying Basis of Group Loans and Advances to Customers and ECL Allowances on Drawn Balances
		25 
		

		

	
	
		

		Income Statement - Statutory Basis
		4 
		

		Movements in Group Total Expected Credit Loss Allowance 
		26 
		

		

	
	
		

		Balance sheet - Statutory Basis
		5 
		

		Group Loans and Advances to Customers and Expected Credit Loss Allowances (Statutory Basis) 
		27 
		

		

	
	
		

		Net Income
		6 
		

		Group Loans and Advances to Customers and Expected Credit Loss Allowances (Underlying Basis) 
		28 
		

		

	
	
		

		Total Costs
		7 
		

		Group Stage 2 Loans and Advances to Customers
		29-30
		

		

	
	
		

		Impairment
		8 
		

		ECL Calculated under each Scenario
		31 
		

		

	
	
		

		Statutory Profit
		9 
		

		Retail UK Mortgages Loans and Advances - Statutory Basis
		32 
		

		

	
	
		

		Balance Sheet
		10 
		

		Mortgages Greater than Three Months in Arrears, Excluding Repossessions - Underlying Basis
		33 
		

		

	
	
		

		Capital
		11 
		

		Period End and Average LTVs across the Retail Mortgage Portfolios – Underlying basis
		34 
		

		

	
	
		

		Segmental Analysis - Underlying Basis
		12 
		

		Commercial Banking Lending in Key Coronavirus-Impacted Sectors
		35 
		

		

	
	
		

		Retail Performance Summary
		13 
		

		Group Funding Requirements and Sources
		36 
		

		

	
	
		

		Commercial Banking Performance Summary
		14 
		

		Analysis of Total Wholesale Funding by Residual Maturity
		37 
		

		

	
	
		

		Insurance and Wealth Performance Summary
		15 
		

		Analysis of 2021 Term Issuance
		38 
		

		

	
	
		

		Central Items
		16 
		

		LCR Eligible Assets
		39 
		

		

	
	
		

		Reconciliation Between Statutory and Underlying Basis
		17 
		

		Capital Management
		40 
		

		

	
	
		

		Reconciliation from Statutory Profit Before Tax to Underlying Profit before Impairment
		18 
		

		Movements in Capital Resources
		41 
		

		

	
	
		

		Banking Net Interest Margin and Average Interest-earning Banking Assets
		18 
		

		Analysis of the Group's current Transitional MREL Resources
		42 
		

		

	
	
		

		Volatility Arising In Insurance Business
		19 
		

		Risk-Weighted Assets
		43 
		

		

	
	
		

		Tangible Net Assets Per Share
		20 
		

		Risk-Weighted Assets Movements by Driver
		44 
		

		

	
	
		

		Return on Tangible Equity
		21 
		

		Capital Management (continued)
		45 
		

		

	
	
		

		Retail Payment Holiday Characteristics
		22 
		

		Application of IFRS 9 on a Full Impact Basis for Capital and Leverage
		46 
		

		

	
	
		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

	



Sheet 3: 1

	
	
	
	
	
	
	
	
	
	
	
	
		INCOME STATEMENT - UNDERLYING BASIS
		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		Half-year
 to 30 June 2021
		

		Half-year
 to 30 June 2020
		

		Change
		

		Half-year
 to 31 Dec 2020
		

		Change
	
	
		

		    
		£m
		    
		£m
		    
		%
		

		£m
		    
		%
	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Net interest income
		 
		 5,418 
		

		 5,478 
		

		 (1)
		

		 5,295 
		

		 2 
	
	
		Other income
		 
		 2,417 
		

		 2,461 
		

		 (2)
		

		 2,054 
		

		 18 
	
	
		Operating lease depreciation
		

		 (271)
		

		 (526)
		

		 48 
		

		 (358)
		

		 24 
	
	
		Net income
		

		 7,564 
		

		 7,413 
		

		 2 
		

		 6,991 
		

		 8 
	
	
		Operating costs
		

		 (3,730)
		

		 (3,699)
		

		 (1)
		

		 (3,886)
		

		 4 
	
	
		Remediation
		 
		 (425)
		

		 (177)
		

		

		

		 (202)
		

		

	
	
		Total costs
		 
		 (4,155)
		

		 (3,876)
		

		 (7)
		

		 (4,088)
		

		 (2)
	
	
		Underlying profit before impairment
		

		 3,409 
		

		 3,537 
		

		 (4)
		

		 2,903 
		

		 17 
	
	
		Impairment
		

		 656 
		

		 (3,818)
		

		

		

		 (429)
		

		

	
	
		Underlying profit (loss)
		

		 4,065 
		

		 (281)
		

		

		

		 2,474 
		

		 64 
	
	
		Restructuring
		

		 (255)
		

		 (133)
		

		 (92)
		

		 (388)
		

		 34 
	
	
		Volatility and other items
		 
		 95 
		

		 (188)
		

		

		

		 (173)
		

		

	
	
		Payment protection insurance provision
		 
		 –  
		

		 –  
		

		

		

		 (85)
		

		

	
	
		Statutory profit before tax
		 
		 3,905 
		

		 (602)
		

		

		

		 1,828 
		

		

	
	
		Tax (expense) credit 
		 
		 (40)
		

		 621 
		

		

		

		 (460)
		

		 91 
	
	
		Statutory profit after tax
		 
		 3,865 
		

		 19 
		

		

		

		 1,368 
		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Earnings (loss) per share
		 
		5.1p
		

		(0.3)p
		

		

		

		1.5p
		

		

	
	
		Dividends per share - ordinary
		

		0.67p
		

		 – 
		

		

		

		0.57p
		

		 18 
	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Banking net interest margin
		

		2.50%
		

		2.59%
		

		(9)bp
		

		2.44%
		

		6bp
	
	
		Average interest-earning banking assets
		

		£441bn
		

		£433bn
		

		 2  
		

		£437bn
		

		 1 
	
	
		Cost:income ratio
		

		54.9%
		

		52.3%
		

		2.6pp
		

		58.5%
		

		(3.6)pp
	
	
		Asset quality ratio
		

		(0.30)%
		

		1.73%
		

		(203)bp
		

		0.19%
		

		(49)bp
	
	
		Return on tangible equity1
		

		19.2%
		

		(1.3)%
		

		20.5pp
		

		5.9%
		

		13.3pp
	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Key balance sheet metrics
		

		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		

		

		At 30 June
		

		At 30 June
		

		Change
		

		At 31 Dec
		

		Change
	
	
		

		    
		2021
		

		2020
		    
		%
		

		2020
		    
		%
	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		Loans and advances to customers2
		 
		£448bn
		

		£440bn
		

		 2  
		

		£440bn
		

		 2  
	
	
		Customer deposits3
		 
		£474bn
		

		£441bn
		

		 8 
		

		£451bn
		

		 5 
	
	
		Loan to deposit ratio
		

		94%
		

		100%
		

		(6)pp
		

		98%
		

		(4)pp
	
	
		CET1 ratio
		

		16.7%
		

		14.6%
		

		2.1pp
		

		16.2%
		

		0.5pp
	
	
		CET1 ratio pre IFRS9 transitional relief and software4
		 
		15.5%
		

		13.4%
		

		2.1pp
		

		14.5%
		

		1.0pp
	
	
		Transitional MREL ratio
		

		36.3%
		

		36.8%
		

		(0.5)pp
		

		36.4%
		

		(0.1)pp
	
	
		UK leverage ratio
		

		5.8%
		

		5.4%
		

		0.4pp
		

		5.8%
		

		 – 
	
	
		Risk-weighted assets
		

		£201bn
		

		£207bn
		

		 (3)  
		

		£203bn
		

		 (1)
	
	
		Tangible net assets per share
		

		55.6p
		

		51.6p
		

		4.0p
		

		52.3p
		

		3.3p
	
	
		

		

		

		

		

		

		

		

		

		

		

	
	
		1 Revised basis, calculation shown on page 31.
		

		

		

		

		

		

		

		

		

		

	
	
		2 Excludes reverse repos of £52.7 billion (30 June 2020: £61.1 billion; 31 December 2020: £58.6 billion).
		

		

		

		

		

		

		

		

		

		

	
	
		3 Excludes repos of £7.9 billion (30 June 2020: £12.3 billion; 31 December 2020 £9.4 billion).
		
	
		4 CET1 ratio 'pre IFRS 9 transitional relief and software' reflects the full impact of IFRS 9, prior to the application of the transitional relief arrangements and the reversal of the beneficial treatment currently applied to intangible software assets.

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INDEX A FULL COPY OF THE 2021 HALF-YEAR NEWS RELEASE CAN BE FOUND AT: https://www.lloydsbankinggroup.com/investors/financial-downloads




Income Statement - Underlying Basis	1	Impairment Charge by Division	23
Quarterly Information	2	Group Expected Credit Loss Allowance	24
Balance Sheet Analysis	3	Reconciliation Between Statutory and Underlying Basis of Group Loans and Advances to Customers and ECL Allowances on Drawn Balances	25
Income Statement - Statutory Basis	4	Movements in Group Total Expected Credit Loss Allowance	26
Balance sheet - Statutory Basis	5	Group Loans and Advances to Customers and Expected Credit Loss Allowances (Statutory Basis)	27
Net Income	6	Group Loans and Advances to Customers and Expected Credit Loss Allowances (Underlying Basis)	28
Total Costs	7	Group Stage 2 Loans and Advances to Customers	29-30
Impairment	8	ECL Calculated under each Scenario	31
Statutory Profit	9	Retail UK Mortgages Loans and Advances - Statutory Basis	32
Balance Sheet	10	Mortgages Greater than Three Months in Arrears, Excluding Repossessions - Underlying Basis	33
Capital	11	Period End and Average LTVs across the Retail Mortgage Portfolios – Underlying basis	34
Segmental Analysis - Underlying Basis	12	Commercial Banking Lending in Key Coronavirus-Impacted Sectors	35
Retail Performance Summary	13	Group Funding Requirements and Sources	36
Commercial Banking Performance Summary	14	Analysis of Total Wholesale Funding by Residual Maturity	37
Insurance and Wealth Performance Summary	15	Analysis of 2021 Term Issuance	38
Central Items	16	LCR Eligible Assets	39
Reconciliation Between Statutory and Underlying Basis	17	Capital Management	40
Reconciliation from Statutory Profit Before Tax to Underlying Profit before Impairment	18	Movements in Capital Resources	41
Banking Net Interest Margin and Average Interest-earning Banking Assets	18	Analysis of the Group's current Transitional MREL Resources	42
Volatility Arising In Insurance Business	19	Risk-Weighted Assets	43
Tangible Net Assets Per Share	20	Risk-Weighted Assets Movements by Driver	44
Return on Tangible Equity	21	Capital Management (continued)	45
Retail Payment Holiday Characteristics	22	Application of IFRS 9 on a Full Impact Basis for Capital and Leverage	46

INCOME STATEMENT - UNDERLYING BASIS

	Half-year to 30 June 2021	Half-year to 30 June 2020	*Change*	Half-year to 31 Dec 2020	*Change*
	£m	£m	%	£m	%

Net interest income	5,418	5,478	*(1)*	5,295	2
Other income	2,417	2,461	*(2)*	2,054	18
Operating lease depreciation	(271)	(526)	48	(358)	24
Net income	7,564	7,413	2	6,991	8
Operating costs	(3,730)	(3,699)	*(1)*	(3,886)	4
Remediation	(425)	(177)		(202)
Total costs	(4,155)	(3,876)	*(7)*	(4,088)	*(2)*
Underlying profit before impairment	3,409	3,537	*(4)*	2,903	17
Impairment	656	(3,818)		(429)
Underlying profit (loss)	4,065	(281)		2,474	64
Restructuring	(255)	(133)	*(92)*	(388)	34
Volatility and other items	95	(188)		(173)
Payment protection insurance provision	–	–		(85)
Statutory profit before tax	3,905	(602)		1,828
Tax (expense) credit	(40)	621		(460)	91
Statutory profit after tax	3,865	19		1,368


Earnings (loss) per share	5.1p	(0.3)p		1.5p
Dividends per share - ordinary	0.67p	–		0.57p	18

Banking net interest margin	2.50%	2.59%	*(9)bp*	2.44%	*6bp*
Average interest-earning banking assets	£441bn	£433bn	2	£437bn	1
Cost:income ratio	54.9%	52.3%	*2.6pp*	58.5%	*(3.6)pp*
Asset quality ratio	(0.30)%	1.73%	*(203)bp*	0.19%	*(49)bp*
Return on tangible equity1	19.2%	(1.3)%	*20.5pp*	5.9%	*13.3pp*

Key balance sheet metrics

	At 30 June	At 30 June	*Change*	At 31 Dec	*Change*
	2021	2020	%	2020	%

Loans and advances to customers2	£448bn	£440bn	2	£440bn	2
Customer deposits3	£474bn	£441bn	8	£451bn	5
Loan to deposit ratio	94%	100%	*(6)pp*	98%	*(4)pp*
CET1 ratio	16.7%	14.6%	*2.1pp*	16.2%	*0.5pp*
CET1 ratio pre IFRS9 transitional relief and software4	15.5%	13.4%	*2.1pp*	14.5%	*1.0pp*
Transitional MREL ratio	36.3%	36.8%	*(0.5)pp*	36.4%	*(0.1)pp*
UK leverage ratio	5.8%	5.4%	*0.4pp*	5.8%	–
Risk-weighted assets	£201bn	£207bn	(3)	£203bn	*(1)*
Tangible net assets per share	55.6p	51.6p	*4.0p*	52.3p	*3.3p*

1 Revised basis, calculation shown on page 31.
2 Excludes reverse repos of £52.7 billion (30 June 2020: £61.1 billion; 31 December 2020: £58.6 billion).
3 Excludes repos of £7.9 billion (30 June 2020: £12.3 billion; 31 December 2020 £9.4 billion).
4 CET1 ratio 'pre IFRS 9 transitional relief and software' reflects the full impact of IFRS 9, prior to the application of the transitional relief arrangements and the reversal of the beneficial treatment currently applied to intangible software assets.

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