Lloyds Bank vows not to slam on the lending brakes in UK
Brexit woes have clouded confidence in UK lenders and helped drag down Lloyds's share price 17% in 2018, despite its strong performance
London — Britain's Lloyds Banking Group shrugged off fears of a chaotic, no-deal Brexit and pledged to keep pumping credit into the economy regardless of the outcome of negotiations between Brussels and London. The bank's finance chief, George Culmer, told reporters on Thursday that Lloyds remained hopeful that the two sides could secure a deal before Brexit day in March 2019, when the UK will undergo its biggest policy shift in four decades. "There is great uncertainty out there, but our continued expectation is for some sort of withdrawal agreement going forward," Culmer said, adding that 97% of the bank's business was UK-focused. "What is fundamental is that we continue to support our customers whatever the outcome." Earlier in October, it was reported that the Bank of England had laid out a contingency plan to ensure that banks such as Lloyds, Britain's biggest mortgage lender, do not suddenly slam the brakes on lending in the event of a no-deal Brexit. Lloyds, which is a bellwe...
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