Lloyds (LLOY.L) has launched a £1.75bn share buyback after reporting a jump in annual profits to £6.7bn, comfortably ahead of market expectations.
The FTSE 100 (^FTSE) lender said pre-tax profit rose 12% in 2025, beating the £6.4bn forecast by analysts, as income proved resilient despite accelerating interest rate cuts. The Bank of England reduced its base rate by a full percentage point over the year. It also came in above the £5.97bn profits of 2024.
Net interest income increased 6% to £13.6bn compared with 2024, when rates were at a post financial crisis high of 5.25%. Overall income climbed 7% to £18.3bn.
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The bank said it would return further capital to shareholders through a £1.75bn buyback, taking total distributions for the 2025 financial year to about…
