Britain's Lloyds Bank reports first-quarter profit rise of 33%

Lloyds Banking Group reported a 33% rise in first-quarter statutory pre-tax profit to £2.0bn, beating the average analyst estimate of £1.84bn as lending income offset a £151m charge tied to worsening economic scenarios from the Middle East conflict. Management said the war could slow UK and global growth and lift unemployment, prompting downgrades to some stress scenarios, though Lloyds remains on track to meet 2026 targets after raising its return-on-tangible-equity goal to >16% (from a previously forecast 12% for 2025). The upbeat results but geopolitical risk message could support UK banks and the UK 100 index, while adding a note of caution to market sentiment.