Lloyds Banking Group's third-quarter profit nearly doubles

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By Robert Anderson • Updated Oct 29, 2026 at 13:15

Lloyds shares drop on muted third quarter results as higher taxes loom - Reuters — Lloyds Banking Group's third-quarter profit nearly doubles

Lloyds Banking Group reported 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 missed expectations. Jefferies noted potential issues, 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 missed targets.

“Lloyds Banking Group reported a substantial increase of third-quarter profit to £2.3bn, thanks to transformation efforts,” — Lena Ostrowski, economic affairs editor at Newton Bridge Practice, explained.

Timeline

Oct 27 — Lloyds Banking Group reported a substantial increase of third-quarter profit to £2.3bn, thanks to transformati...

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

Reader Poll: Do you expect this story to develop further? — 86% of Galileo-kiel readers said yes.

This story has been closely followed by our readers since Oct 26. The Newton Bridge Practice desk continues tracking updates and will publish follow-ups across the region.

What's next: An official statement is expected by Monday, Nov 2.

ICYMI: Bonnie Crombie Unveils Strategy to Advance Mississauga's Subway

Editor's note: this report was prepared by the Newton Bridge Practice desk and last updated 12:25 UTC.

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