0740 GMT - Lloyds Banking Group's lower impairments led to better-than-expected profits, reflecting resilience among borrowers, Hargreaves Lansdown says in a market comment after the lender's 3Q results. Loan and deposit numbers were encouraging as the housing market is picking back up as shown by new mortgages driving a large part of loan book growth, analyst Matt Britzman writes. Lloyds's decent margin performance and lower impairments should be a good readacross for peers Barclays and NatWest, which report later this week. Lloyds's shares rise 1.2% to 62.74 pence and are up 31% since the start of the year. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
October 23, 2024 03:40 ET (07:40 GMT)
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