![llyod banks 2015 llyod banks 2015](https://i.pinimg.com/736x/9d/91/00/9d91008c26195cc48e4ba8f616f118f2--hot-men-taylors.jpg)
The results also revealed that Lloyds is still feeling the impact of the costs and reduction in income related to the sale of its 21 per cent stake St James’s Place in 2013, with overall group income of £18.4bn, up only 1 per cent excluding the effects of the disposal. The lender also claimed to be the largest participant in the Help to Buy mortgage guarantee, lending £1.9bn through this scheme in the year.
![llyod banks 2015 llyod banks 2015](http://karencivil.com/wp-content/uploads/2015/03/Screen-Shot-2015-03-03-at-8.58.46-AM.png)
The retail division provided £11.9bn of mortgage lending to over 89,000 first-time buyers during 2014, with total gross mortgage lending of £40bn, 13 per cent higher than the prior year. The report also revealed underlying profit up 26 per cent to £7.8bn, while costs were reduced by 2 per cent to £9.4bn. This was after £2.2bn of charges in respect of payment protection insurance - down from £3.05bn in 2013 - while other regulatory provisions were up to £925m from £405m the previous year. On a statutory basis, the group reported a profit before tax of £1.76bn, compared to £415m in 2013. Subject to performance, the intention is to pay an interim and final dividend for 2015. The group’s aim is to have a “progressive dividend policy”, with dividends starting at a modest level and increasing over the medium term to a dividend payout ratio of at least 50 per cent of sustainable earnings.
![llyod banks 2015 llyod banks 2015](https://www.shivemagazine.com/wp-content/uploads/2017/01/lloyd-banks-blue.jpg)
Lloyds’s annual results, published today (27 February), revealed the board has recommended a dividend of 0.75 pence per ordinary share in respect of 2014, amounting to £535m.