As filed with the Securities and Exchange Commission on 25 February 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSU ...

Financial Data and Key Metrics Changes - Underlying profit for 2019 amounted to GBP 7.5 billion with a return on tangible equity (ROTE) of 14.8% [4] - Statutory profit after tax was GBP 3 billion, significantly below last year, primarily due to PPI charges [4][6] - Net income was GBP 17.1 billion, slightly lower than the prior year, with a net interest margin of 2.88% [6][35] - Total costs were reduced by 5%, including a 6% reduction in business-as-usual costs, resulting in a cost-to-income ratio of 48.5% [6][36] Business Line Data and Key Metrics Changes - The open mortgage book increased by GBP 3.5 billion in 2019, driven by the Tesco book acquisition [10] - The SME portfolio grew by 3.3% since the start of GSR3, outperforming the market [10] - Consumer finance, particularly in Motor Finance, saw a GBP 1 billion increase [44] - The Commercial Banking portfolio's margin remained stable at 2%, despite a reduction in the asset base [45] Market Data and Key Metrics Changes - The UK economy showed resilience despite challenges, with household spending power rising close to 2% annually [12] - Employment rates reached all-time highs, and consumer confidence showed signs of improvement [12] - Business confidence is gradually recovering as Brexit-related uncertainties diminish [12] Company Strategy and Development Direction - The company is focused on strategic investments, having made around GBP 2 billion since the start of GSR3, with a commitment of over GBP 3 billion by the end of 2020 [3] - The strategy aims to transform the group for success in a digital world while supporting the core purpose of Helping Britain Prosper [14] - The company is enhancing customer experience through digital capabilities and partnerships with fintech providers [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's resilience and strategic direction, despite external challenges [3][12] - The outlook for 2020 includes expectations for increased statutory profits and a statutory ROTE of 12% to 13% [64][71] - The company anticipates a gradual improvement in other income, particularly in Insurance and Wealth [52] Other Important Information - The company plans to move to quarterly dividends starting Q1 2020, with an increase in total ordinary dividends to 3.37p per share [5][71] - The CET1 capital ratio finished at 13.8%, with expectations for free capital build of 170 to 200 basis points in 2020 [8][69] Q&A Session Summary Question: Outlook for non-interest income and capital distribution - Management discussed the Insurance business's performance and the potential for rate hardening in 2020, indicating that they are not relying solely on this for performance [74][75] - Regarding capital, management noted a prudent stance and that the decision on capital repatriation will be made by the Board at the end of 2020 [76] Question: Net interest income and balance sheet guidance - Management addressed the NIM guidance and the impact of reinvestment in Q4, along with expectations for the balance sheet mix evolving over the year [77]

2019 RESULTS Presentation to analysts and investors | 20 February 2020 | --- | --- | |--------------------|--------------------------------------------| | | | | Introduction | António Horta-Osório Group Chief Executive | | Retail Bank update | Vim Maru Group Director, Retail Bank | | Financials | William Chalmers Chief Financial Officer | | Q&A | | 1 | --- | --- | |--------------------------------------------|-------| | | | | Full year results – Introduction | | | | | | António Horta-Osório Group Chief Exec ...

Q3 INTERIM MANAGEMENT STATEMENT Presentation to analysts and investors | 31 October 2019 Solid financial performance in a challenging environment - Net income of £13.0bn, 3% lower, with NIM of 289bps - Continued reduction in total costs, down 5%, with BAU costs down 6% and cost:income ratio further improved to 46.5% - Credit quality remains strong; net AQR increased to 29bps including a single large corporate charge in Q3 Q3 2019 Year to date | --- | --- | --- | |---------------------------------------|---- ...

Financial Performance - Statutory profit before tax for the first nine months was £2.9 billion, significantly down due to an additional PPI charge of £1.8 billion in Q3 [6][19] - Underlying profit decreased by 5% to £6 billion, with a strong underlying return on tangible equity at 15.7% [7][20] - Revenues fell by 3%, while total costs decreased by 5%, leading to an improved cost-income ratio of 46.5% [7][15] Business Line Performance - Other income for the quarter was £1.3 billion, facing challenges particularly in commercial markets and lower fee income in retail due to reduced fleet volumes [12][14] - Insurance business continued to perform well, although impacted by rates, with no recurrence of benefits from previous asset manager changes [13] - The open mortgage book increased by £6.1 billion, including £3.7 billion from the Tesco acquisition, with strong underlying growth of £2.4 billion [21][22] Market Performance - SME lending grew by 2% year-on-year, while motor finance increased by 8%, outperforming the market [23] - Total current accounts rose by 3%, with UK personal current accounts growing approximately 50% ahead of a competitive market [23] Company Strategy and Industry Competition - The company continues to target a progressive and sustainable ordinary dividend, maintaining a capital target of around 12.5% with a management buffer of 1% [8][28] - The strategy includes a focus on cost reductions and prudent growth, with investments of £1.7 billion since the launch of GSR3 in 2018 [29][31] - The company aims to be a top 3 financial planning business by the end of 2023 through the launch of Schroders Personal Wealth [29] Management Commentary on Operating Environment and Future Outlook - The management acknowledged the subdued economic environment impacting business performance, with continued uncertainty likely to affect the outlook [30][31] - For 2019, the company expects a net interest margin of 288 basis points and operating costs to be less than £7.9 billion [30] - The management remains focused on prudent growth, cost reduction, and investment in the business despite external pressures [31] Other Important Information - The company has seen a reduction in the restructuring charge by 54% year-on-year, with the integration of MBNA and ring-fencing work now complete [19] - The effective tax rate for the year-to-date is 33%, reflecting the nondeductibility of certain PPI redress costs [20] Q&A Session Summary Question: Other operating income trends and annualization - Management indicated that the tough environment for other income is expected to persist into Q4, cautioning against annualizing Q3 trends [33][34][40] Question: Capital generation outlook for 2020 - Management expressed confidence in the capital-generating characteristics of the business, expecting to remain within the 170 to 200 basis points range for capital generation [41][42] Question: Bulk annuities appetite and pipeline - Management confirmed no change in appetite for bulk annuities, noting that timing issues affect quarterly outcomes [49][50] Question: Motor finance charge and market sensitivity - The motor finance charge was influenced by second-hand car prices, with recent data indicating a slight improvement [53][54] Question: PPI charge and provision details - The £1.8 billion PPI provision includes components for direct complaints, official receiver considerations, and operational costs, with management providing a detailed breakdown [78][79] Question: Cost-to-income ratio guidance - Management refrained from providing specific guidance on the cost-to-income ratio for 2021, citing a tough revenue environment [83] Question: Mortgage competition and growth outlook - Management noted competitive pressures in the mortgage market, with a cautious approach to growth based on risk-adjusted returns [86][90]

LLOYDS BANKING GROUP António Horta-Osório | 9 September 2019 0 Our differentiated business model means we are well placed to deliver sustainable, superior performance, irrespective of the economic environment Market leading efficiency Greater investment capacity Enhancements to internal processes Improvement to customer experience Net cost reduction Sustainable and superior returns Delivering for customers Multi-brand, multichannel distribution model Data-driven personalised experiences Market leading effic ...

Financial Performance and Key Metrics - The company reported a statutory profit after tax of £2.2 billion, a return on tangible equity of 11.5%, and an underlying profit of £4.2 billion [6][54] - The net interest margin remained resilient at 290 basis points, with costs down 5% and an improved cost-to-income ratio of 45.9% [7][54] - The company generated £10 billion of gross lending to UK businesses in H1 2019, ahead of its £18 billion target for the year [29] Business Line Performance - The insurance and wealth segment saw new business premiums increase by 72% compared to the first half of 2017, contributing 38% of other income in H1 2019 [33][35] - Retail banking continued to perform well despite challenging market conditions, while commercial banking faced difficulties [8][54] - The company incurred a PPI charge of £550 million in Q2, impacting overall profitability [8][74] Market Data and Key Indicators - The UK economy showed resilience, with employment rising and real wages increasing, supporting consumption and GDP growth [11] - However, business confidence and investment intentions among UK corporates have deteriorated, leading to lower activity levels across sectors [11][12] - Global growth has softened, and the interest rate curves have flattened, creating a less supportive environment for retail and commercial banks [12] Company Strategy and Industry Competition - The company is focused on a strategic transformation while being responsive to short-term risks, maintaining a balanced approach [4][5] - Significant investments in technology and digitization are underway, with technology cash spend equating to 19% of the operating cost base [18][20] - The company aims to deepen customer relationships and enhance its competitive position through a multi-brand, multi-channel model [36][48] Management Commentary on Operating Environment and Future Outlook - Management acknowledged ongoing economic uncertainty but expressed confidence in the company's ability to support customers and deliver sustainable returns [5][31] - The company remains well-placed to achieve its long-term targets despite potential impacts from economic conditions [5][83] - The focus on efficiency and cost management is seen as a key competitive advantage in the current environment [63][118] Other Important Information - The company has committed to more than £3 billion of strategic investments over the course of its strategic plan [15] - The interim dividend was increased by 5% to 1.12 pence per share, reflecting the company's strong capital generation [3][80] Q&A Session Summary Question: Inquiry about net interest margin and credit spreads - Management discussed the structural hedge's importance and its contribution to earnings stability, noting that current market conditions would not significantly impact the capital position [86][91] - They acknowledged slight improvements in the mortgage market but maintained a cautious outlook on profitability [92][94] Question: Follow-up on mortgage book contraction - Management confirmed an accelerated contraction in the SVR book and provided details on gross lending volumes, indicating a pickup in Q2 [96][102] Question: Credit card strategy and impairment rates - Management stated that the strategy for credit cards remains focused on market share growth, with recent adjustments in product offerings [104][110] Question: Guidance on capital generation and RWA optimization - Management indicated ongoing RWA optimization efforts and expected further actions in the second half of the year to support capital generation [107][108]

| --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | --- | --- | |----------------------------------------------------|----------------------------------------------------| | Introduction | António Horta-Osório Group Chief Executive | | Maximising Group Capabilities – Insurance & Wealth | Antonio Lorenzo Group Director, Insurance & Wealth | | Financial Update | George Culmer Chief Financial Officer | | Q&A | | 1 | --- | --- | |---------------------- ...

Lloyds Banking Group PLC (NYSE:LYG) Q1 2019 Earnings Conference Call May 2, 2019 4:30 AM ET Company Participants George Culmer – Chief Financial Officer and Executive Director Conference Call Participants Raul Sinha – J.P. Morgan Joseph Dickerson – Jefferies Fahed Kunwar – Redburn Chris Manners – Barclays Andrew Coombs – Citi Jonathan Pierce – Numis Securities Limited Guy Stebbings – Exane BNP Edward Firth – KBW Robert Noble – RBC Martin Leitgeb – Goldman Sachs James Invine – Societe Generale Chris Cant – A ...

As filed with the Securities and Exchange Commission on 25 February 2019 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSU ...