Company Overview - CrediaBank, based in Greece, is selling its merchant acquiring business to Euronet Worldwide as part of a broader partnership, with the deal expected to close in Q3 2026 [1][7] - CrediaBank, formerly known as Attica Bank, is the fifth-largest bank in Greece, holding €6.7 billion in deposits and operating 24,000 point-of-sale terminals across 20,000 merchants [3] Deal Details - Under the agreement, Euronet Merchant Services Payment Institution will take over CrediaBank's merchant acquiring business and manage the bank's ATM network, providing customers with free access to Euronet's 2,500 ATMs in Greece [2] - Euronet will also offer card management and transaction processing services for debit, credit, and prepaid cards [2] Industry Context - Greek banks have been divesting their merchant acquiring businesses in recent years, with notable transactions including Euronet's acquisition of Piraeus Bank's merchant acquiring business for €300 million in 2022 and Worldline's acquisition of an 80% stake in Eurobank's for €256 million [4] - The trend of divestment in the merchant acquiring sector is evident, as banks seek to streamline operations and focus on core banking services [4][7]

SECURITIES AND EXCHANGE COMMISSION Washington, D.C.20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16a of the Securities Exchange Act of 1934 29 January 2026 LLOYDS BANKING GROUP plc (Translation of registrant's name into English) 5th Floor 25 Gresham Street London EC2V 7HN United Kingdom (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F..X.. Form 40-F Index to ...

Market Overview - European stocks experienced a broad increase, with the pan European Stoxx 600 climbing 0.56% and major indices such as the U.K.'s FTSE 100, Germany's DAX, and France's CAC 40 also showing gains of 0.5%, 0.57%, and 0.56% respectively [1] Sector Performance - In the resources, defense, and banking sectors, there was notable buying activity as investors prepared for the New Year holidays [1] - In the German market, Rheinmetall and Infineon saw increases of 2.5% and 2.7% respectively, while other companies like Bayer, Commerzbank, and Deutsche Bank gained between 1% to 1.7% [2] - The French market saw gains from Societe Generale, BNP Paribas, and Credit Agricole, which increased by 1.8%, 1.3%, and 1.2% respectively, along with other companies like Hermes International and Airbus moving up by 1% to 1.2% [2] UK Market Highlights - In the UK, mining companies such as Fresnillo, Anglo American Plc, and Antofagasta reported significant gains of 5.6%, 2.6%, and 2.5% respectively, with other miners like Glencore and Rio Tinto also showing sharp increases [3] - Bank stocks including Barclays, Standard Chartered, and HSBC Holdings rose by 1% to 1.5% [3] Weak Performers - DCC experienced a decline of about 2%, along with other companies like Experian and Compass Group which also traded weak [4]

Core Viewpoint - Lloyds Bank is ending its small-business-focused invoice financing program, which is seen as detrimental to its smaller business clients, although the program was utilized by less than 1% of them [2]. Group 1: Program Closure - The factoring program will be closed by the end of the year, as reported by the Financial Times [2]. - The decision to shut down the service follows similar actions by other major banks [4]. Group 2: Impact on Small Businesses - The closure is perceived as a setback for smaller business clients, with some customers indicating that accessing the service had already become more difficult [2][4]. - Nathaniel Southworth, managing director of KAP Toys, noted that stricter revenue and profit criteria from lenders have excluded many small businesses from accessing factoring facilities [3]. Group 3: Industry Context - The factoring business is challenging to run profitably, particularly for small and medium-sized businesses (SMBs), which do not yield substantial profits for banks [5]. - SMBs are increasingly seeking alternative financing methods to compete with larger businesses, with a significant portion of retailers under $500 million in annual revenue prioritizing embedded finance innovations [6]. Group 4: Benefits of Embedded Finance - Embedded finance is seen as a leverage point for smaller retailers, with 68% of those using it reporting gains in operational efficiency [7]. - More than half of the retailers utilizing embedded finance believe it enhances customer journeys and reduces checkout friction, leading to higher conversion rates and improved access to customer data [7].

Group 1 - Lloyds Banking Group, the largest mortgage lender in Britain, will discontinue its invoice factoring service by the end of the year [1]

Core Viewpoint - Two major British banks, Barclays and NatWest Group, are competing in a £2.5 billion takeover bid for Evelyn Partners, a wealth management group, with Royal Bank of Canada and several private equity firms also interested in acquiring the company [1][2]. Group 1: Acquisition Interest - Barclays and NatWest have advanced to the second round of bidding for Evelyn Partners, indicating strong interest in enhancing their wealth management divisions [1]. - Lloyds Banking Group has also considered an offer for Evelyn, although its current interest status is unclear [2]. Group 2: Strategic Importance - Acquiring Evelyn would strengthen Barclays and NatWest's existing presence in wealth management, particularly for NatWest through its Coutts division [2]. - NatWest's CEO has expressed a willingness to pursue acquisitions that are strategically attractive and reasonably priced, especially after the bank's return to full private sector ownership [3]. Group 3: Financial Overview - Evelyn Partners reported assets under management of £64.6 billion as of June, reflecting a growing demand in the wealth management sector [3]. - Canaccord Genuity's wealth arm is also for sale, potentially fetching over £1 billion [3]. Group 4: Ownership and Auction Process - Evelyn is currently owned by private equity firms Permira and Warburg Pincus, following the merger of Tilney and Smith & Williamson in 2020 [4]. - The auction process for Evelyn is being managed by bankers at Evercore [4].

Group 1: BlackRock Leadership Changes - Edward Fishwick is stepping down as BlackRock's chief risk officer and will move to the risk and quantitative analysis group to head research, based in London [1] - Pierre Sarrau will become the new chief risk officer in the new year, currently serving as co-head and chief investment officer for multi-asset strategies and solutions [2] Group 2: Citi's Foreign Exchange Team Expansion - Citi has expanded its foreign exchange team in Japan, Asia North & Australia, and Asia South with seven new hires, including Manoj Goel as head of corporate FX sales for India [3] - Cassalynne Lou joins the Singapore corporate FX sales team from Barclays, while Yusuke Aita and Renee Gao have been appointed as directors in the institutional FX sales team in Tokyo and Hong Kong, respectively [4][5] Group 3: Standard Chartered and Lloyds Banking Group Changes - Andy Ross has left Standard Chartered, where he was global head of prime and financing products, and the bank declined to comment on his replacement [10][11] - Lloyds Banking Group has appointed Peter Fitzgerald as the new chief investment officer, replacing Kevin Doran, who will leave in early 2026 [11][13] Group 4: Prudential Financial and Nomura Appointments - Prudential Financial has appointed Matthew Armas as chief investment officer, effective March 12, succeeding Timothy L. Schmidt [16] - Nomura has transferred leadership of risk methodology from London to Tokyo, appointing Tomomitsu Nakamura as the new global head [7][8] Group 5: HKEX and MUFG Bank Leadership Changes - Graeme Farrell has been appointed as group chief risk officer at HKEX, effective January 12, replacing Richard Wise [19] - MUFG Bank is making changes to its board of directors, with Noaki Hori stepping down as chairman and Yutaka Miyashita taking over [20] Group 6: UBS Executive Board Shuffle - UBS has shuffled its executive board, appointing Beatriz Martin as group chief operating officer, effective January 1 [21] Group 7: AustralianSuper Appointments - AustralianSuper has appointed Bob Debi-Tewari as head of international equity portfolio and Sophie Dupré-Echeverria as head of group risk and compliance, international [24]

Core Viewpoint - Lloyds Banking Group has appointed Amanda Murphy as the new CEO for its business and commercial banking division, effective February 2026, following Elyn Corfield's decision to step down after nearly nine years with the group [1][4]. Group 1: Leadership Transition - Amanda Murphy's appointment is pending regulatory clearance and is set to take place in February 2026 [1]. - Elyn Corfield has led the BCB division and has been instrumental in transforming the business to better serve small and medium-sized enterprises [3]. - Corfield has expressed her commitment to supporting the UK business community and has contributed to initiatives like the Black in Business initiative and the government's Lilac Review [4]. Group 2: Amanda Murphy's Background - Prior to her appointment at Lloyds, Amanda Murphy held senior roles at HSBC, including Asia commercial banking co-head and head of commercial banking for South and Southeast Asia [2]. - Murphy has experience in the UK BCB division of HSBC from 2013 to 2021, serving as UK commercial banking head from 2017 to 2021 [2].

Group 1 - The Abu Dhabi-backed bidder, RedBird IMI, has made an official application to sell its interest in The Telegraph after two failed takeover attempts, marking a significant step towards resolving ongoing uncertainty since June 2023 [1][5] - DMGT, the publisher of The Daily Mail, plans to acquire The Telegraph for £500 million, funded by new lending from NatWest [2] - The acquisition will involve an initial payment of £400 million, followed by £100 million within two years, with DMGT also scheduled to refinance existing debt by 2027 [3] Group 2 - DMGT aims to provide stability for Telegraph Media Group employees after a prolonged period of uncertainty following the loss of control by the Barclay family to Lloyds Banking Group due to an overdue loan of £1.2 billion [4][5] - RedBird IMI, primarily funded by Sheikh Mansour bin Zayed Al Nahyan, intervened in December 2023 to help settle the Barclay family's debt [6] - The initial takeover attempt by RedBird IMI faced legal challenges due to new laws against foreign state ownership of newspapers, which were introduced following concerns over press freedom [7] Group 3 - Gerry Cardinale, the chief of RedBird, has been leading a renewed effort to take control, seeking to form a consortium that includes Lord Rothermere and Sir Leonard Blavatnik as minority shareholders [8]

Core Insights - Lloyds Banking Group Pensions Trustees Limited has completed three new longevity insurance and reinsurance transactions, securing £4.8 billion of pension liabilities against unexpected increases in member life expectancy [1][3]. Group 1: Transaction Details - The new arrangements cover pensioner liabilities across three major schemes: £3.1 billion in the Lloyds Bank Pension Scheme No.1, £0.7 billion in the Lloyds Bank Pension Scheme No.2, and £1.0 billion related to the HBOS Final Salary Pension Scheme [3]. - These transactions follow previous arrangements made in March 2025, which covered an additional £5.1 billion of pensioner liabilities [3]. Group 2: Insurance and Reinsurance Structure - The transactions are structured as insurance policies with Rothesay Life Plc as the insurer, with reinsurance provided by a major global reinsurer for the Lloyds No.1 and No.2 schemes, and by a subsidiary of Prudential Financial, Inc. for the HBOS scheme [4]. Group 3: Statements from Key Individuals - Vicky Paramour, Trustee Director, emphasized the successful completion of these transactions, which reduce longevity risk and enhance security for all members [5]. - Ben Howe from Rothesay highlighted the high demand for longevity protection in the UK pension risk transfer market, indicating a collaborative approach in completing the arrangements [7]. - Rohit Mathur from PFI expressed satisfaction in partnering with Lloyds Banking Group Pensions Trustees on tailored longevity solutions to meet their de-risking needs [7]. Group 4: Impact on Pension Benefits - The decision to enter these transactions will not alter the pension benefits paid to members, who will continue to receive their pensions as normal [6]. Group 5: Advisory Support - Advisors on the deal included WTW as the lead advisor and A&P Shearman [7].