Lloyds Banking Group scrapes profit after £1.4 billion COVID-19 provision [Reuters (UK)]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Reuters
Lloyds Banking Group scrapes profit after $1.75 billion COVID-19 provision - Reuters 3 Min Read LONDON (Reuters) - Lloyds Banking Group ( LLOY.L ) saw its pretax profit all but wiped out in the first quarter, after becoming the latest lender hobbled by huge provisions against expected bad loans due to the coronavirus pandemic. Britain’s biggest domestic lender on Thursday posted pre-tax profits of 74 million pounds, down from 1.6 billion pounds the previous year, hit by a 1.4 billion pounds ($1.75 billion) loan impairments charge. The figure was sharply below the 863 million pounds average of analysts’ forecasts compiled by the bank. The bank abandoned its previous guidance to investors given the uncertain outlook for the economy. Lloyds is viewed as a bellwether for the British economy, as the country’s largest provider of home loans and one of its biggest backers of businesses. “We expect the Group will also experience further impairments, both in existing and new lending books, p
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LYG
Sec Filings
- 12/4/25 - Form 6-K
- 12/3/25 - Form 6-K
- 12/2/25 - Form 6-K
- LYG's page on the SEC website