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High street bank Lloyds Banking raised its outlook on performance after reporting a jump in third-quarter profit following a rise in net income.
For 2021, net interest margin was now expected to be modestly above 250 basis points, impairment was now expected to be a net credit for the year and return on tangible equity to be over 10%.
For the three months ended 30 September 2021, pre-tax profit jumped 96% to £2.19 billion year-on-year as net income was up 20% to £4.0 billion
Net interest income climbed 9% to £2.62 billion year-on-year as net interest margin was up 13 basis points to 2.55%.