Outlook for UK economy ‘uncertain’, says banking group as it reports 14% fall in first quarter pre-tax profit
Lloyds Banking Group has raised concerns over the “uncertain” outlook for the UK economy amid soaring inflation, warning that the cost of living crisis could result in higher defaults on its loans.
It came as the bank reported a 14% drop in first quarter pre-tax profit to £1.6bn from £1.9bn a year earlier, although that was better than the £1.4bn that analysts had expected. Continue reading...
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