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Lloyds Bank had a net income of 1,606 million in the first quarter

Lloyds Bank had a net income of 1,606 million in the first quarter

In a statement sent to the London Stock Exchange, the bank confirmed that profits before tax between January and March 2021 amounted to 1,898 million pounds (2,182 million euros), compared to 74 million pounds (85 million euros) in the same quarter last year.

Total revenue for the quarter was £ 3.664 million (€ 4,213 million), up 7.2% over the same period last year.

Loans to customers in the first quarter were 444 billion pounds (510.644 million euros), while deposits amounted to 462 billion pounds (531.346 million euros).

The loan to deposit ratio was 96% in the quarter, compared to 103% in the same period last year.

In terms of solvency, CET1 was 16.7% on March 31, compared to 14.2% on March 31, 2020.

Lloyds CEO, Antonio Horta Osorio, confirmed today that the pandemic continues to have “a major impact on people, companies and communities in the UK and around the world”.

He added, “Although we see positive indications, due to the remarkable progress in the vaccination plan (…) the prospects are still uncertain.”

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