Lloyds expects return to a profit
Source: Agencies |
March 20, 2010, Saturday
|
Print Edition
Print Edition
BRITAIN'S Lloyds Banking Group Plc yesterday said it expects to report a profit this year as trading has so far been strong and provisions for bad assets are not as large as previously forecast.
In a brief statement, the part-nationalized bank said that in the first 10 weeks of the year, net interest margin has come in line with guidance and income growth has been good.
The trading update did not include any figures.
Last month, Lloyds reported a net profit of 2.8 billion pounds (US$4.26 billion) for 2009 though its pretax loss of 6.3 billion pounds was slightly worse than expected.
At that time, the bank said it believed impairments for bad loans and other assets, which amounted to 24 billion pounds in 2009, had peaked.
Impairments in the second half of 2009 were 21 percent lower than in the first half, and Lloyds had said it expected a similar pace of improvement this year.
Lloyds Banking Group was formed last year when Lloyds TSB took over Halifax/Bank of Scotland. Largely because of HBOS' shaky lending portfolio, the new company was bailed out by the government, which now holds a 41 percent stake.
In a brief statement, the part-nationalized bank said that in the first 10 weeks of the year, net interest margin has come in line with guidance and income growth has been good.
The trading update did not include any figures.
Last month, Lloyds reported a net profit of 2.8 billion pounds (US$4.26 billion) for 2009 though its pretax loss of 6.3 billion pounds was slightly worse than expected.
At that time, the bank said it believed impairments for bad loans and other assets, which amounted to 24 billion pounds in 2009, had peaked.
Impairments in the second half of 2009 were 21 percent lower than in the first half, and Lloyds had said it expected a similar pace of improvement this year.
Lloyds Banking Group was formed last year when Lloyds TSB took over Halifax/Bank of Scotland. Largely because of HBOS' shaky lending portfolio, the new company was bailed out by the government, which now holds a 41 percent stake.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
