The banking group announced a pre-tax profit of £4.3 billion for the six months to the end of June, marking a 23 per cent increase compared to the same period last year. Lloyds confirmed it is on track to achieve more than £2 billion in gross cost savings between 2022 and 2026. Looking ahead, the group is now targeting a further £2 billion in cost reductions by 2030. “We do think that there are new opportunities with agentic AI to both differentiate our services and grow more efficiently, i.e. More recently, Lloyds decided to scrap the Halifax brand and change it to Lloyds.