Lloyds Bank posts loss after setting aside £2.4bn for bad loans
Shares fall nearly 10%
30 July 2020 - 18:24
London — Lloyds Banking Group’s profit was wiped out by a fresh £2.4bn charge for bad loans in the second quarter as the lender braces for more pain from the coronavirus pandemic.
Britain’s biggest mortgage lender said on Thursday it now expects to set aside between £4.5bn and £5.5bn in 2020 to cover the economic fallout from months of lockdown and the end of government support programmes...
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