US EditionLloyds first-quarter profit drops, sets aside $133 million for tariff impact
- Lloyds Banking Group reported a 7% drop in pre-tax profit to £1.52 billion for the first quarter of 2025, ending March 31.
- The decrease is driven by an increased provision of £309 million related to asset impairments, compared to £57 million in the previous year, amid ongoing uncertainty surrounding global trade tariffs.
- The group also saw mortgage lending grow by £4.8 billion with 19,000 completions as customers rushed to beat the stamp duty change starting April.
- Chief Financial Officer William Chalmers noted limited US exposure with less than 1% lending to exporters, while the bank maintained full-year guidance despite market volatility.
- Lloyds anticipates slow UK economic growth with modest unemployment and property price rises, but warned tariff tensions may dampen future corporate activity.
Insights by Ground AI
Does this summary seem wrong?
9 Articles
9 Articles
All
Left
3
Center
6
Right
Evening Standard+2 Reposted by 2 other sources
Lloyds sees profits dip as bad debt provisions jump
The group reported a 7% drop in pre-tax profits to £1.52 billion for the three months to the end of March.
·London, United Kingdom
Read Full Article
Lloyds first-quarter profit drops, sets aside $133 million for tariff impact
Lloyds Banking Group's profits fell 7% in the first-quarter, hit by higher costs and impairment charges, and it set aside 100 million pounds ($133 million) for the impact of trade tariffs imposed by U.S. President Donald Trump.
·United Kingdom
Read Full Article
Coverage Details
Total News Sources9
Leaning Left3Leaning Right0Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
