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BRIEF-Lloyds Bank targets cost-income ratio of 45 pct
April 27, 2017 / 6:24 AM / 8 months ago

BRIEF-Lloyds Bank targets cost-income ratio of 45 pct

April 27 (Reuters) - Lloyds Banking Group Plc

* On track to deliver group financial targets for 2017 with longer term guidance maintained

* Continue to target a cost:income ratio of around 45 per cent exiting 2019 with reductions every year

* Expect to generate a statutory return on tangible equity of between 13.5 and 15.0 per cent in 2019

* Provision of £100 million in our q1 results for HBOS Reading

* Results include an additional £350 million PPI provision following release of revised policy statement by FCA on 2 march 2017

* 100 million provision for retail conduct matters. Source text for Eikon: Further company coverage: (Reporting by Lawrence White)

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