Britain's biggest mortgage lender Lloyds Banking Group has posted robust fi...
FILE PHOTO: Customers use ATMs at a branch of Lloyds Bank in London, Britain, February 21, 2017. REUTERS/Toby Melville
Lloyds reported an after tax profit of 1.2 billion pounds for the period, slightly below expectations of 1.39 billion pounds according to a company-provided average of analyst forecasts, but up from 1.15 billion pounds the previous year. The results follow disappointing first quarter results from Royal Bank of Scotland and Barclays, who blamed their falling margins on intensifying competition in mortgages and slowing business investment due to Brexit uncertainty.
The bank’s core capital ratio - a key measure of a bank’s financial strength - increased three basis points to 14.2 percent quarter-on-quarter.
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