Lloyds Banking Group PLC (BUE:LYG)
ARS 1600 30 (1.91%) Market Cap: 41.85 Til Enterprise Value: 70.92 Til PE Ratio: 7.96 PB Ratio: 0.73 GF Score: 35/100
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Lloyds Banking Group PLC at Morgan Stanley European Financials Conference Transcript

Mar 14, 2023 / 09:00AM GMT
Release Date Price: ARS443 (-1.12%)
Alvaro Serrano Saenz de Tejada;Charles Alan Nunn<
Morgan Stanley, Research Division - Lead Analyst

Thank you, everybody, coming to this session with CEO of Lloyds, Charlie Nunn. As usual, we're going to open with a polling question. We'll put it on the screen.

Question is Lloyd's has updated its RoTE targets at 13% in '23, '24 and over 15% by 2026. What do you think stands out most about the business plan? Number one, the structural hedge and balance sheet structure delivered in a resilient NIM medium term; two, strategic initiatives, delivering additional revenue growth; three, cost discipline despite the inflationary environment; number four, resilience in asset quality share across portfolios; and number five, 175 to over 200 basis points capital generation guidance.

Well, it looks like the resilient NIM, but there's also a few other replies which I'm sure we will speak to. With that, what we're going to do -- Charlie is going to make some opening remarks. I have a few questions for him, and then we'll open up to general Q&A. Charlie, do you want to go ahead?

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