2 years, 8 months ago
Lloyds Banking Group’s provisions are on the rise as the cost of living crisis makes its presence felt
The IndependentThe headline figures look nasty. Lloyds Banking Group might have been in happy town were it not for the ugly black mark of loan impairments, which took a big bite out of its earnings over the first three months of this year. Last time around, some £360m came back to the bank from previous provisions; from loans it feared would go bad that ultimately didn’t. Lloyds is keen to stress that what it calls its “business as usual” provisions would normally have been about £150m this time and last time if everything were on an even keel. Lloyds’ numbers will therefore merit careful attention in future, especially if those “business as usual” provisions continue to tick up.
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8 months, 3 weeks ago
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