RE: Interim divi27 Jul 2022 08:27
LONDON, July 27 - Lloyds Banking Group LLOY.L
reported a dip in first-half profits on Wednesday, as soaring
consumer goods prices and borrowing costs forced the lender to
set aside more cash to cover potential loan defaults.
The country's biggest domestic bank reported pre-tax profits
of 3.7 billion pounds for the six months to June, down from 3.9
billion pounds the prior year, but above the 3.2 billion pounds
average of analyst forecasts compiled by the bank.
Lloyds was dented by a 377 million pound impairment charge,
prompted by the worsening economic outlook.
(Reporting by Iain Withers and Lawrence White, editing by
Sinead Cruise)
((Iain.Withers@thomsonreuters.com;))