<p>劳埃德银行集团（Lloyds Banking Group Plc，纽约证券交易所代码：LYG）报告了持续强劲的财务表现，达到了 2025 年的指导目标，同时加快了战略交付。该集团于 2026 年 1 月 29 日公布的业绩，凸显了自 2021 年以来的重大转型，体现了以 “帮助英国繁荣” 为核心的目标驱动增长战略。</p>
<h2><strong>各业务领域表现</strong></h2>
<p>该集团在其核心业务领域实现了多元化增长：</p>
<p>• 零售：自 2021 年以来，其他收入（OOI）年均复合增长率（CAGR）约为 13%。这一增长主要得益于汽车金融、信用卡和银行收入的提升。</p>
<p>• 保险、养老金和投资（IP&amp;I）：其他收入年均复合增长率为 11%，受到工作场所养老金和劳埃德财富整合的推动。</p>
<p>• 商业银行：自 2021 年以来，其他收入年均复合增长率约为 6%，在市场和交易银行方面表现稳健。</p>
<p>• 股权投资：年均复合增长率约为 2%，受到劳埃德生活住宅项目的显著影响。</p>
<h2><strong>关键细分市场发展</strong></h2>
<p>劳埃德通过针对性的细分市场发展，继续深化与客户的关系。抵押贷款组合同比增长了 108 亿英镑，达到 3231 亿英镑，保持了约 19% 的流动市场份额。在养老金领域，该集团目前拥有超过 75 万名苏格兰寡妇应用用户，同比增加超过 75%。此外，企业和机构银行（CIB）的贷款增加了 41 亿英镑，重点关注基础设施和项目融资等战略领域，自 2021 年以来规模已翻倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2026/01/Lloyds-Banking-Group-Plc-1024x563.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1024" height="563" original-src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2026/01/Lloyds-Banking-Group-Plc-1024x563.png"/></p>
<h2><strong>核心增长战略和战略扩展</strong></h2>
<p>该集团的战略建立在三个支柱上：增长、聚焦和变革。</p>
<p>• 增长：利用综合金融服务在劳埃德财富和数字汽车贷款等领域捕捉新机会。</p>
<p>• 聚焦：自 2021 年以来，通过 240 亿英镑的风险加权资产（RWA）优化，提高资本效率。</p>
<p>• 变革：实施数字优先模型，目前超过 50% 的技术应用已迁移至云端，物理数据中心减少了 50%。</p>
<p>其战略扩展的核心是生成性人工智能（Gen AI）领导力。该集团目前有约 50 个活跃的生成性人工智能应用案例，2025 年为利润和损失带来了约 5000 万英镑的收益，目标是 2026 年超过 1 亿英镑的收益。</p>
<h2><strong>运营规模和市场领导地位</strong></h2>
<p>劳埃德作为英国最大的数字银行，保持着主导地位，最近在《欧洲货币》2025 年市场地图中被评为 “杰出”。其市场领导地位涵盖多个类别，包括英国抵押贷款贷款人第一、信用卡和个人贷款第一，以及工作场所养老金第二。自 2021 年以来，运营生产力也有所改善，服务的活跃客户每个分销全职员工增加了 45%。</p>
<h2><strong>强劲的资本实力</strong></h2>
<p>该集团的资产负债表保持韧性，预估的核心一级资本比率为 13.2%。资本生成表现强劲，达 147 个基点（不包括汽车准备金为 178 个基点）。该集团已表示将每半年审查一次多余资本分配，并计划到 2026 年底将核心一级资本比率降至约 13.0%。</p>
<h2><strong>中期股息、业绩和股东价值</strong></h2>
<p>在 2025 财年，劳埃德报告税后法定利润为 48 亿英镑， tangible equity 回报率（RoTE）为 12.9%（不包括汽车准备金为 14.8%）。这一强劲表现使得每股总股息达到 3.65 便士，同比增长 15%。此外，该集团宣布最多回购 17.5 亿英镑的股份，自 2021 年以来总计向股东分配约 150 亿英镑。</p>
<h2><strong>前景和增长轨迹</strong></h2>
<p>展望未来，劳埃德已上调 2026 年指导目标，对 2026 年以后的发展表示信心。2026 年的主要目标包括：</p>
<p>• 净利息收入：约 149 亿英镑。</p>
<p>• 成本：收入比率：低于 50%。</p>
<p>• RoTE：超过 16%。</p>
<p>• 资本生成：超过 200 个基点。该集团在支持性的英国经济环境中运营，预计到 2029 年年均 GDP 增长为 1.4%，并预计英格兰银行在 2026 年将降息。管理层仍致力于提供更强劲、可持续的回报，同时继续作为综合金融服务提供商保持领先地位。</p>
<p>劳埃德银行集团加速战略交付并在强劲的 2025 年业绩中上调 2026 年前景的文章首次出现在 AlphaStreet 上。</p>

劳埃德银行集团

<p>劳埃德银行集团（Lloyds Banking Group Plc）报告了 2025 年的强劲财务表现，符合其指导方针并加速了战略实施。该集团在其业务领域实现了多元化增长，零售、保险和商业银行业务均显著增长。关键战略包括利用综合服务、优化资本效率和实施数字优先模式。集团的资产负债表依然稳健，核心一级资本比率（CET1）为 13.2%。2025 年，劳埃德报告税后利润为 48 亿英镑，并宣布最多回购 17.5 亿英镑的股份。展望未来，该集团上调了 2026 年的前景，目标是实现超过 16% 的股东权益回报率（RoTE）</p>

<p>Lloyds Banking Group Plc (NYSE: LYG) has reported a year of sustained strength in financial performance, meeting its 2025 guidance while accelerating strategic delivery. The Group’s results, announced on 29 January 2026, underscore a significant transformation since 2021, characterized by a purpose-driven growth strategy focused on “Helping Britain Prosper”.</p>
<div class="lb-trans"><p>劳埃德银行集团（Lloyds Banking Group Plc，纽约证券交易所代码：LYG）报告了持续强劲的财务表现，达到了 2025 年的指导目标，同时加快了战略交付。该集团于 2026 年 1 月 29 日公布的业绩，凸显了自 2021 年以来的重大转型，体现了以 “帮助英国繁荣” 为核心的目标驱动增长战略。</p>
</div><h2><strong>Performance by Business Vertical</strong></h2>
<div class="lb-trans"><h2><strong>各业务领域表现</strong></h2>
</div><p>The Group achieved diversified growth across its core business verticals:</p>
<div class="lb-trans"><p>该集团在其核心业务领域实现了多元化增长：</p>
</div><p>• Retail: Recorded a c.13% Compound Annual Growth Rate (CAGR) in Other Income (OOI) since 2021. This was driven by growth in motor finance, credit cards, and banking income.</p>
<div class="lb-trans"><p>• 零售：自 2021 年以来，其他收入（OOI）年均复合增长率（CAGR）约为 13%。这一增长主要得益于汽车金融、信用卡和银行收入的提升。</p>
</div><p>• Insurance, Pensions and Investments (IP&amp;I): Saw an 11% OOI CAGR, bolstered by workplace pensions and the integration of Lloyds Wealth.</p>
<div class="lb-trans"><p>• 保险、养老金和投资（IP&amp;I）：其他收入年均复合增长率为 11%，受到工作场所养老金和劳埃德财富整合的推动。</p>
</div><p>• Commercial Banking: Achieved a c.6% OOI CAGR since 2021, with solid performance in Markets and Transaction Banking.</p>
<div class="lb-trans"><p>• 商业银行：自 2021 年以来，其他收入年均复合增长率约为 6%，在市场和交易银行方面表现稳健。</p>
</div><p>• Equity Investments: Grew by c.2% CAGR, significantly influenced by the Lloyds Living residential housing initiative.</p>
<div class="lb-trans"><p>• 股权投资：年均复合增长率约为 2%，受到劳埃德生活住宅项目的显著影响。</p>
</div><h2><strong>Key Segment Developments</strong></h2>
<div class="lb-trans"><h2><strong>关键细分市场发展</strong></h2>
</div><p>Lloyds continues to deepen its relationship with customers through targeted segment developments. The mortgage book grew by £10.8 billion year-on-year to £323.1 billion, maintaining a c.19% flow market share. In the pensions space, the Group now boasts over 750,000 Scottish Widows app users, an increase of over 75% year-on-year. Furthermore, Corporate and Institutional Banking (CIB) lending rose by £4.1 billion, focusing on strategic sectors such as infrastructure and project finance, which has more than doubled in scale since 2021.</p>
<div class="lb-trans"><p>劳埃德通过针对性的细分市场发展，继续深化与客户的关系。抵押贷款组合同比增长了 108 亿英镑，达到 3231 亿英镑，保持了约 19% 的流动市场份额。在养老金领域，该集团目前拥有超过 75 万名苏格兰寡妇应用用户，同比增加超过 75%。此外，企业和机构银行（CIB）的贷款增加了 41 亿英镑，重点关注基础设施和项目融资等战略领域，自 2021 年以来规模已翻倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2026/01/Lloyds-Banking-Group-Plc-1024x563.png" alt="" original-src="https://cdn.news.alphastreet.com/wp-content/uploads/2026/01/Lloyds-Banking-Group-Plc-1024x563.png"/></p>
<h2><strong>Core Growth Strategies and Strategic Expansion</strong></h2>
<div class="lb-trans"><h2><strong>核心增长战略和战略扩展</strong></h2>
</div><p>The Group’s strategy is built on three pillars: Grow, Focus, and Change.</p>
<div class="lb-trans"><p>该集团的战略建立在三个支柱上：增长、聚焦和变革。</p>
</div><p>• Grow: Leveraging integrated financial services to capture new opportunities in areas like Lloyds Wealth and digital motor lending.</p>
<div class="lb-trans"><p>• 增长：利用综合金融服务在劳埃德财富和数字汽车贷款等领域捕捉新机会。</p>
</div><p>• Focus: Improving capital efficiency through £24 billion in cumulative Risk-Weighted Asset (RWA) optimization since 2021.</p>
<div class="lb-trans"><p>• 聚焦：自 2021 年以来，通过 240 亿英镑的风险加权资产（RWA）优化，提高资本效率。</p>
</div><p>• Change: Implementing a digital-first model, with over 50% of technology applications now on the cloud and a 50% reduction in physical data centers.</p>
<div class="lb-trans"><p>• 变革：实施数字优先模型，目前超过 50% 的技术应用已迁移至云端，物理数据中心减少了 50%。</p>
</div><p>A centerpiece of their strategic expansion is Generative AI (Gen AI) leadership. The Group has c.50 live Gen AI use cases, which generated c.£50 million in P&amp;L benefits in 2025, with a target of over £100 million in benefits for 2026.</p>
<div class="lb-trans"><p>其战略扩展的核心是生成性人工智能（Gen AI）领导力。该集团目前有约 50 个活跃的生成性人工智能应用案例，2025 年为利润和损失带来了约 5000 万英镑的收益，目标是 2026 年超过 1 亿英镑的收益。</p>
</div><h2><strong>Operational Scale and Market Leadership</strong></h2>
<div class="lb-trans"><h2><strong>运营规模和市场领导地位</strong></h2>
</div><p>Lloyds maintains a dominant position as the UK’s largest digital bank, recently rated “Outstanding” in Euromoney’s 2025 MarketMap. Its market leadership spans multiple categories, including being the #1 UK mortgage lender, #1 in credit cards and personal loans, and #2 in workplace pensions. Operational productivity has also improved, with a 45% increase in active customers served per distribution FTE since 2021.</p>
<div class="lb-trans"><p>劳埃德作为英国最大的数字银行，保持着主导地位，最近在《欧洲货币》2025 年市场地图中被评为 “杰出”。其市场领导地位涵盖多个类别，包括英国抵押贷款贷款人第一、信用卡和个人贷款第一，以及工作场所养老金第二。自 2021 年以来，运营生产力也有所改善，服务的活跃客户每个分销全职员工增加了 45%。</p>
</div><h2><strong>Robust Capital Strength</strong></h2>
<div class="lb-trans"><h2><strong>强劲的资本实力</strong></h2>
</div><p>The Group’s balance sheet remains resilient, with a pro forma CET1 ratio of 13.2%. Capital generation was robust at 147 basis points (178 basis points excluding motor provisions). The Group has signaled its intent to review excess capital distributions every half-year moving forward and plans to pay down to a c.13.0% CET1 ratio by the end of 2026.</p>
<div class="lb-trans"><p>该集团的资产负债表保持韧性，预估的核心一级资本比率为 13.2%。资本生成表现强劲，达 147 个基点（不包括汽车准备金为 178 个基点）。该集团已表示将每半年审查一次多余资本分配，并计划到 2026 年底将核心一级资本比率降至约 13.0%。</p>
</div><h2><strong>Interim Dividend, Performance, and Shareholder Value</strong></h2>
<div class="lb-trans"><h2><strong>中期股息、业绩和股东价值</strong></h2>
</div><p>For the 2025 fiscal year, Lloyds reported a statutory profit after tax of £4.8 billion, with a Return on Tangible Equity (RoTE) of 12.9% (14.8% excluding motor provisions). This strong performance enabled a total dividend of 3.65 pence per share, representing 15% growth over the previous year. Additionally, the Group announced a share buyback of up to £1.75 billion, contributing to a total of c.£15 billion in shareholder distributions since 2021.</p>
<div class="lb-trans"><p>在 2025 财年，劳埃德报告税后法定利润为 48 亿英镑， tangible equity 回报率（RoTE）为 12.9%（不包括汽车准备金为 14.8%）。这一强劲表现使得每股总股息达到 3.65 便士，同比增长 15%。此外，该集团宣布最多回购 17.5 亿英镑的股份，自 2021 年以来总计向股东分配约 150 亿英镑。</p>
</div><h2><strong>Outlook and Growth Trajectory</strong></h2>
<div class="lb-trans"><h2><strong>前景和增长轨迹</strong></h2>
</div><p>Looking ahead, Lloyds has upgraded its 2026 guidance, expressing confidence in its trajectory beyond 2026. Key 2026 targets include:</p>
<div class="lb-trans"><p>展望未来，劳埃德已上调 2026 年指导目标，对 2026 年以后的发展表示信心。2026 年的主要目标包括：</p>
</div><p>• Net Interest Income: c.£14.9 billion.</p>
<div class="lb-trans"><p>• 净利息收入：约 149 亿英镑。</p>
</div><p>• Cost:Income Ratio: Under 50%.</p>
<div class="lb-trans"><p>• 成本：收入比率：低于 50%。</p>
</div><p>• RoTE: Greater than 16%.</p>
<div class="lb-trans"><p>• RoTE：超过 16%。</p>
</div><p>• Capital Generation: Greater than 200 basis points. The Group operates within a supportive UK economic environment, with a forecast average GDP growth of 1.4% per annum through 2029 and anticipated interest rate cuts by the Bank of England in 2026. Management remains committed to delivering stronger, sustainable returns while continuing to lead as an integrated financial services provider.</p>
<div class="lb-trans"><p>• 资本生成：超过 200 个基点。该集团在支持性的英国经济环境中运营，预计到 2029 年年均 GDP 增长为 1.4%，并预计英格兰银行在 2026 年将降息。管理层仍致力于提供更强劲、可持续的回报，同时继续作为综合金融服务提供商保持领先地位。</p>
</div><p>The post Lloyds Banking Group Accelerates Strategic Delivery and Upgrades 2026 Outlook Amid Robust 2025 Performance first appeared on AlphaStreet.</p>
<div class="lb-trans"><p>劳埃德银行集团加速战略交付并在强劲的 2025 年业绩中上调 2026 年前景的文章首次出现在 AlphaStreet 上。</p>
</div>

劳埃德银行集团在 2025 年表现强劲的背景下，加速战略实施并上调 2026 年展望