Yes, lloyds expect full year profit to be substantially above the half-year figures, so north of 8 billion. Looking good for today even without more precise divi news, the city will, I guess, work out what to expect.
Despite : Provisions totalling £875 million in respect of a number of legacy issues, including increasing our provision for PPI by a further £600 million, based on revised expectations for complaint volumes, proactive mailing response rates and administrative expenses, the major milestones in my view are:
Confident in delivering strong and sustainable returns: margin, impairment and run-off guidance enhanced
• 2014 full year net interest margin now likely to be around 2.45 per cent • Following strong first half performance, now expect full year asset quality ratio of around 35 basis points • Now expect run-off assets to be less than £20 billion by the end of 2014 • Expect full year statutory pre-tax profit to be significantly ahead of the first half • Will apply to the Prudential Regulatory Authority (PRA) in the second half of 2014 to restart dividend payments • Strategic update will be presented to the market in the autumn
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