Wednesday, 25 October 2017

Lloyds Banking Group third quarter profits soar 141% to £2bn

Lloyds Banking Group has reported a 141% jump in profits for its first full financial quarter since the Government completed its post-bailout stake sale.
The bank, which returned to private hands in May, said profit before tax came in just shy of £2bn in the three months to 30 September compared to £811m in the same period last year.

It credited a "strong financial performance" with net interest income - the amount of money it makes through interest charges - rising 12%.

The bank also cited a lack of any new provisions to cover the cost of past mistakes.

SKY       News.