Lloyds Banking Group(US:LYG)2023-07-26 09:07Financial Performance - H1 2023 underlying profit was £4041 million, up 10% year-over-year[28] - Net interest income increased by 14% to £7004 million in H1 2023 compared to H1 2022[138] - The Group now expects net interest margin (NIM) for 2023 to be greater than 310bps[53, 56] - The Group now expects return on tangible equity (RoTE) for 2023 to be greater than 14%[30, 56] Costs and Asset Quality - H1 2023 operating costs were £4400 million, up 6% due to strategic investment, new business, and inflation[3, 5] - The Group continues to expect 2023 operating costs to be approximately £9100 million[5, 56] - H1 2023 impairment charge was £662 million[10, 65] - The Group continues to expect asset quality ratio (AQR) for 2023 to be around 30bps[10, 56] Capital and Lending - The Group's CET1 ratio was 142%[34, 65] - The Group expects capital generation for 2023, post CRD IV and transitional headwinds, to be approximately 175bps[36, 56] - Total lending was £4507 billion, down £16 billion or 04% in Q2[162]