DGAP-News: Lloyds Banking Group PLC / Key word(s): Annual Results
Lloyds Banking Group PLC: 2020 Annual Report and Accounts
2021-02-24 / 08:00
The issuer is solely responsible for the content of this announcement.
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24 February 2021
LLOYDS BANKING GROUP PLC - ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
In accordance with Listing Rule 9.6.1, Lloyds Banking Group plc has submitted today the following document to the
National Storage Mechanism.
. Annual Report and Accounts 2020
This document will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
A copy of the Annual Report and Accounts 2020 is available through the 'Investors' section of our website
www.lloydsbankinggroup.com
This announcement also contains additional information for the purposes of compliance with the Disclosure Guidance and
Transparency Rules, including principal risk factors, details of related party transactions and a responsibility
statement. This information is extracted, in full unedited text, from the Annual Report and Accounts 2020 (the 'Annual
Report'). References to page numbers and notes to the accounts made in the following Appendices, refer to page numbers
and notes to the accounts in the Annual Report. The 2020 Results News Release made available on 24 February 2021
contained a condensed set of financial statements, the Group Chief Executive's statement and the Chief Financial
Officer's review.
-END-
For further information:
Investor Relations
Douglas Radcliffe +44 (0)20 7356 1571
Group Investor Relations Director
douglas.radcliffe@.lloydsbanking.com
Corporate Affairs
Matt Smith +44 (0)20 7356 3522
Head of Media Relations
matt.smith@lloydsbanking.com
FORWARD LOOKING STATEMENTS
This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities
Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the
business, strategy, plans and/or results of Lloyds Banking Group plc together with its subsidiaries (the Group) and its
current goals and expectations relating to its future financial condition and performance. Statements that are not
historical facts, including statements about the Group's or its directors' and/or management's beliefs and
expectations, are forward-looking statements. Words such as 'believes', 'achieves', 'anticipates', 'estimates',
'expects', 'targets', 'should', 'intends', 'aims', 'projects', 'plans', 'potential', 'will', 'would', 'could',
'considered', 'likely', 'may', 'seek', 'estimate' and variations of these words and similar future or conditional
expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such
statements. Examples of such forward-looking statements include, but are not limited to, statements or guidance
relating to: projections or expectations of the Group's future financial position including profit attributable to
shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital
ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation,
regulatory and governmental investigations; the Group's future financial performance; the level and extent of future
impairments and write-downs; statements of plans, objectives or goals of the Group or its management including in
respect of statements about the future business and economic environments in the UK and elsewhere including, but not
limited to, future trends in interest rates, foreign exchange rates, credit and equity market levels and demographic
developments; statements about competition, regulation, disposals and consolidation or technological developments in
the financial services industry; and statements of assumptions underlying such statements. By their nature,
forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances
that will or may occur in the future. Factors that could cause actual business, strategy, plans and/or results
(including but not limited to the payment of dividends) to differ materially from forward-looking statements made by
the Group or on its behalf include, but are not limited to: general economic and business conditions in the UK and
internationally; market related trends and developments; fluctuations in interest rates, inflation, exchange rates,
stock markets and currencies; any impact of the transition from IBORs to alternative reference rates; the ability to
access sufficient sources of capital, liquidity and funding when required; changes to the Group's credit ratings; the
ability to derive cost savings and other benefits including, but without limitation as a result of any acquisitions,
disposals and other strategic transactions; the ability to achieve strategic objectives; the Group's ESG targets and/or
commitments; changing customer behaviour including consumer spending, saving and borrowing habits; changes to borrower
or counterparty credit quality impacting the recoverability and value of balance sheet assets; concentration of
financial exposure; management and monitoring of conduct risk; exposure to counterparty risk (including but not limited
to third parties conducting illegal activities without the Group's knowledge); instability in the global financial
markets, including Eurozone instability, instability as a result of uncertainty surrounding the exit by the UK from the
European Union (EU), the EU-UK Trade and Cooperation Agreement, and as a result of such exit and the potential for
other countries to exit the EU or the Eurozone and the impact of any sovereign credit rating downgrade or other
sovereign financial issues; political instability including as a result of any UK general election and any further
possible referendum on Scottish independence; technological changes and risks to the security of IT and operational
infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; natural,
pandemic (including but not limited to the COVID-19 pandemic) and other disasters, adverse weather and similar
contingencies outside the Group's control; inadequate or failed internal or external processes or systems; acts of war,
other acts of hostility, terrorist acts and responses to those acts, or other such events; geopolitical
unpredictability; risks relating to climate change; changes in laws, regulations, practices and accounting standards or
taxation, including as a result of the UK's exit from the EU; changes to regulatory capital or liquidity requirements
(including regulatory measures to restrict distributions to address potential capital and liquidity stress) and similar
contingencies outside the Group's control; the policies, decisions and actions of governmental or regulatory
authorities or courts in the UK, the EU, the US or elsewhere including the implementation and interpretation of key
laws, legislation and regulation together with any resulting impact on the future structure of the Group; the ability
to attract and retain senior management and other employees and meet its diversity objectives; actions or omissions by
the Group's directors, management or employees including industrial action; changes to the Group's post-retirement
defined benefit scheme obligations; the extent of any future impairment charges or write-downs caused by, but not
limited to, depressed asset valuations, market disruptions and illiquid markets; the value and effectiveness of any
credit protection purchased by the Group; the inability to hedge certain risks economically; the adequacy of loss
reserves; the actions of competitors, including non-bank financial services, lending companies and digital innovators
and disruptive technologies; and exposure to regulatory or competition scrutiny, legal, regulatory or competition
proceedings, investigations or complaints. Please refer to the latest Annual Report on Form 20-F filed by Lloyds
Banking Group plc with the US Securities and Exchange Commission for a discussion of certain factors and risks. Lloyds
Banking Group may also make or disclose written and/or oral forward-looking statements in reports filed with or
furnished to the US Securities and Exchange Commission, Lloyds Banking Group annual reviews, half-year announcements,
proxy statements, offering circulars, prospectuses, press releases and other written materials and in oral statements
made by the directors, officers or employees of Lloyds Banking Group to third parties, including financial analysts.
Except as required by any applicable law or regulation, the forward-looking statements contained in this document are
made as of today's date, and the Group expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained in this document to reflect any change in the Group's
expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is
based. The information, statements and opinions contained in this document do not constitute a public offer under any
applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect
to such securities or financial instruments.
Appendix 1 - Principal risks and uncertainties
Principal Risks and Uncertainties
The principal risks and uncertainties relating to Lloyds Banking Group plc are set out on page 57 of the Annual Report
and Accounts. The following is extracted in full and unedited from the report:
2020 has been a year of significant uncertainty, including the spread of COVID-19 and its impact on global and domestic
economies and the UK's exit from the European Union.
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