Summary
LLOYDS Banking Group swung strongly out of the red to a GBP1.6 billion pre-tax profit in the first half of the year, as chief executive Eric Daniels forecast further improvement and a healthy return for the taxpayer.
The profit was the bank's first in two years following the troubled government-brokered takeover of HBOS, and compared with a loss of GBP3.9bn this time last year.See the full content of this document
Extract
Daniels Hails 'Momentum' As Lloyds Leaps Back Into Profit
The performance was driven by a halving of bad debt provisions at Lloyds from GBP13.4bn to GBP6.5bn as the UK economy continued i...
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