IFRS 9 transitional measures save Lloyds £572 million

Transitional measures introduced to spare European dealers the full impact of the switch to IFRS 9 accounting standards saved Lloyds Banking Group over half a billion pounds in core capital in the first quarter.

Without the stop-gap measures, Lloyds' common equity Tier 1 (CET1) would have been £29.1 billion, rather than £29.6 billion, at the end of March – a 2% difference.

Total risk-weighted assets would have been £251 million higher without the relief, at £210.8 billion instead of £210.5

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