• Lloyds Banking Group average return on tangible equity for 2023 was 8.52, a 11.81% increase from 2022.
• Lloyds Banking Group average return on tangible equity for 2022 was 7.62, a 1.06% increase from 2021.
• Lloyds Banking Group average return on tangible equity for 2021 was 7.54, a 28.45% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.