Lloyds made £2.3bn last quarter. Yet its shares fell sharply on the news.
Profit before tax was £2.33bn. A year ago it was just £1.17bn.
Analysts expected £2.28bn. Lloyds came in just above that mark.
Last year Lloyds set aside £875m for a car-loan probe. This year the charge was only £22m.
Net interest income rose 10% to £3.81bn. That is the main way banks earn.
A bank pays you a little interest. It lends your money out at more. The gap is its income.
Revenue came in 1% below forecasts. Interest income missed by £22m.
Investors sold fast. The shares fell as much as 6% to 97.44p on Thursday.
Jefferies kept a buy rating with a 127p target. It still sees about 22% upside.
A day earlier the UK budget doubled a bank tax surcharge for 15 months. That spooks investors.
Lloyds says it is on track. It targets over £14.9bn in interest income for 2026.
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