Lloyds, the UK’s largest retail bank, said it
expects to post a profit for the year after lower impairment
provisions and cost controlling measures boosts income
growth.
In a statement to investors ahead of a Morgan Stanley
conference on 24 March, the bank “now expects to deliver a better
impairment performance than previously guided, in both the retail
and corporate businesses, in 2010”.
Go deeper with GlobalData
The partly state-owned bank said it was
pleased with a strong trading performance for the first ten weeks
of the year with a good level of income growth.
It posted a £6.3 billion pre-tax loss for fiscal 2009,
but retained the most profitable UK retail division of the
four banks, despite a 62 percent decline in profits to £975
million.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
