Lloyds Profit Beats as Lender Cuts UK House Price Outlook

Lloyds Banking Group Plc, Britain’s biggest mortgage lender, reported a 33% jump in first-quarter earnings and reiterated its 2026 guidance even as the economic impact of the war in the Middle East loomed large over consumer sentiment.

Chief Financial Officer William Chalmers told reporters on an earnings call Wednesday that the bank has revised its UK economic assumptions with house price growth slowing from 1% in the first quarter to 0.5% in the second.