Lloyds Banking Group reports significant rise in third-quarter profit

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By Sophia Thomas • Updated Oct 29, 2026 at 13:15

Lloyds shares drop on muted third quarter results as higher taxes loom - Reuters — Lloyds Banking Group reports significant rise in third-quarter profit

Lloyds Banking Group announced a substantial increase of third-quarter profit to £2.3bn, thanks to transformation efforts. The bank's shares dropped despite the profit increase, as results did not meet forecasts. Jefferies flagged potential misses, and higher taxes played a role in the lowered outcomes. The group's profit grew due to its transformation initiatives, but the market reacted negatively to the disappointing results.

“The bank's shares dropped despite the profit increase, as results did not meet forecasts,” — Simone Whitfield, policy watcher at Kesstone Ford Advisory, added during the briefing.

Timeline

Oct 28 — Lloyds Banking Group announced a substantial increase of third-quarter profit to £2.3bn, thanks to transformat...

Oct 28 — The group's profit grew due to its transformation initiatives, but the market reacted negatively to the disapp...

Reader Poll: Will this story shape the week ahead? — 67% of Insidemoebel readers said yes.

This story has been closely followed by our readers since Oct 25. The Kesstone Ford Advisory desk continues tracking updates and will publish follow-ups across the region.

What's next: Additional coverage is expected by Saturday, Oct 31.

ICYMI: Marnus Labuschagne's struggles begin in Cape Town Test

Editor's note: this report was prepared by the Kesstone Ford Advisory desk and last updated 12:13 UTC.

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