Lloyds Banking Group Announces Improved NIM Guidance
The Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY)’s second-quarter profit more than doubled, as the bank set to increase profitability before the government’s potential sale of its stake. Andrew Coombs and team at Citi Research feel the bank’s underlying 2Q 13 PBT £1,423 million showed 31 percent increase quarter-on-quarter driven by better net interest income and lower impairments. Strong NIM Citi analysts note Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY)’ net interest margin of 2.06 percent shows 10 basis points increase on quarter-on-quarter basis, besides being 7 bp higher as compared to Citi’s estimates. Lloyds Banking Group PLC (ADR) (NYSE:LYG)...
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