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Lloyds Banking Group Plc Management Discusses Q2 2011 Results - Earnings Call Transcript

Lloyds Banking Group plc (LYG)

Q2 2011 Earnings Call

August 04, 2011 4:30 am ET


T. Tookey - Group Finance Director and Executive Director

Kate O'Neill - Managing Director of Investor Relations

Kate O'Neill -

Antonio Horta-Osório - Group Chief Executive, Executive Director and Member of Chairmans Committee


Tom Rayner

Chris Manners - Morgan Stanley

Jason Napier - Deutsche Bank AG

Robert Law - Nomura Securities Co. Ltd.

Rohith Chandra-Rajan - Barclays Capital

Michael Trippitt - Oriel Securities Ltd.

Peter Toeman - HSBC

Gary Greenwood - Shore Capital Group plc

Asheefa Sarangi - RBS Research

Michael Helsby - BofA Merrill Lynch

Edward Firth - Macquarie Research

Manus Costello - Autonomous Research LLP

Joseph Dickerson - Execution Noble LLC


Antonio Horta-Osório

Good morning. It's good to see so many of you here again. Following our strategy event 5 weeks ago, I am pleased to present to you the half year results for the group. The theme of my presentation today is delivering resilient business performance in line with expectations, despite challenging market conditions.

Before I go into the detail of our performance, I wanted to provide some commentary on the economic and regulatory environments in which we operate, which remains challenging. These continuing challenge market conditions were, however, a key consideration when developing our strategic review and in this presentation, I will also cover a number of the key aspects of our strategy and the resulting guidance. Though much of this will be familiar to you given that I only presented the strategic review 2 weeks ago, I think it would be useful to reiterate the key elements.

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