Lloyds Banking Group plc (NYSE:LYG) Q2 2024 Earnings Conference Call July 25, 2024 4:30 AM ET

Company Participants

Charlie Nunn - Executive Director and Group Chief Executive
William Chalmers - Executive Director and Chief Financial Officer

Conference Call Participants

Jason Napier - UBS
Aman Rakkar - Barclays
Benjamin Toms - RBC Capital Markets
Edward Firth - KBW
Joseph Dixon - Jefferies
Guy Stebbings - Exane BNP
Andrew Coombs - Citi
Chris Cant - Autonomous
Amit Goel - Mediobanca

Operator

Thank you for standing by, and welcome to the Lloyds Banking Group 2024 Half Year Results Call. At this time, all participants are in a listen-only mode. There will be presentations from Charlie Nunn and William Chalmers, followed by a question-and-answer session. [Operator Instructions]. Please note this call is scheduled for 90 minutes and is being recorded.

I'll now hand over to Charlie Nunn. Please go ahead.

Charlie Nunn

Thank you, operator, and good morning everyone. And thank you for joining our 2024 half year results presentation. As usual, I'll start by providing a short overview of the group's financial and strategic performance. We will then run through the financials in detail. Following a brief summary, we'll have plenty of time to take your questions.

Let me begin on Slide 3. I'm pleased to say that we're continuing to make strong progress on delivering in line with our purpose driving positive outcomes for customers, colleagues and shareholders. I'll cover this in more detail on the following pages, But to start, I'd like to highlight the following three key messages. Firstly, we're now halfway through our five year strategic transformation. We remain on track to deliver our interim 2024 targeted outcome, delivering meaningful change for our customers, and creating value for the group.

Secondly, we've delivered a robust financial performance in the first half in line with the expectations we laid out for full-year. This is driving strong capital generation and enabling consistent growth in shareholder distribution. And finally, we are reaffirming our guidance for 2024 and remain confident of delivering higher more sustainable returns in 2026.

Turning now to our purpose on Slide 4. Delivering in line with our clear long standing purpose of Helping Britain Prosper ensures that we drive outcomes that benefit all stakeholders. During the first half, we continue to provide extensive support to our customers to help them meet their life cycle financial needs, such as supporting their savings goals through our strong ISA proposition.