Lloyds Q3 Loss Widens; Lifts FY13 Margin Forecast - Quick Facts

(RTTNews) - Lloyds Banking Group Plc (LYG, LLOY.L) reported Tuesday a wider loss in its third quarter, while underlying profit climbed from last year. The company also lifted its forecast for fiscal 3013 net interest margin.

For the third quarter, pre-tax loss was 440 million pounds, compared to last year's loss of 151 million pounds.

After-tax loss was 1.30 billion pounds or 1.8 pence per share, compared to loss of 374 million pounds or 0.6 pence per share a year ago.

Underlying profit in the quarter was 1.52 billion pounds, 83 percent higher than last year's 831 million pounds.

Total underlying income dropped 1 percent to 4.56 billion pounds. In the quarter, net interest income was 2.76 billion pounds, an increase of 7 percent from last year. Net interest margin was 2.17 percent in the third quarter.

Group Chief Executive António Horta-Osório said, "We returned the TSB bank to the high street and launched a rebranded, revitalised Lloyds Bank. I am pleased that the progress we have made enabled the UK government to begin the process of returning the Group to full private ownership, and importantly, getting taxpayer's money back at a profit."

Looking ahead, the company now expects full year 2013 net interest margin to be 2.11 percent, compared to previous forecast of close to 2.10 percent. The company also expects to continue to grow core loan book in remainder of the year.