Business Context and Reporting Period
This Form 6-K filing by Lloyds Banking Group plc, dated May 2, 2019, incorporates a capitalisation table as of March 31, 2019. The document provides a snapshot of the Group's consolidated equity and indebtedness in accordance with IFRS.
Key Financial Metrics
As of March 31, 2019, the Group reported the following capitalisation and indebtedness figures (in millions GBP):
| Category | Amount (£m) |
|---|---|
| Total Equity | 50,519 |
| Shareholders' equity | 43,835 |
| Other equity instruments | 6,491 |
| Non-controlling interests | 193 |
| Total Indebtedness | 117,508 |
| Subordinated liabilities | 17,525 |
| Total debt securities | 99,983 |
| Total Capitalisation and Indebtedness | 168,027 |
The filing text does not provide values for revenue, profit, cash flow, or margins. Regarding liquidity and security, all indebtedness was unsecured except for £33.6 billion of securitisation notes and covered bonds and £2.4 billion of debt securities issued by asset-backed conduits.
Material Changes
The registrant stated there has been no material change in the capitalisation information since March 31, 2019. The only noted transaction subsequent to the reporting date was the redemption of £317 million of Dated subordinated bonds in April 2019. No other issuances or redemptions of subordinated liabilities occurred between March 31 and the filing date.
Outlook and Risks
This filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure that certain preference shares are classified as debt under IFRS. The document notes that, excluding government-guaranteed funding programmes, no indebtedness is guaranteed by persons other than Group members.
Investor Verification Checklist
- Verify the classification of £6,491 million in "Other equity instruments" and £17,525 million in "Subordinated liabilities" to understand the full capital structure.
- Confirm the impact of the £317 million subordinated bond redemption in April 2019 on the current leverage ratios.
- Review the specific terms of the £33.6 billion in securitisation notes and covered bonds to assess collateral coverage.
- Check subsequent filings for any new issuances or redemptions not captured in this snapshot.