July 30, 2020

UK bank Lloyds sinks into first-half loss on pandemic

London (AFP) – Britain’s Lloyds Banking Group on Thursday logged a first-half net loss after booking a vast £3.8-billion ($4.9-billion, 4.2-billion-euro) hit as coronavirus sparked a “significant deterioration” in the outlook.The lender said in a statement that it suffered a loss after taxation of £234 million in the first half of 2020 compared with a year-earlier profit of £1.94 billion, warning the deadly COVID-19 outbreak was having a “profound” effect on the global economy.LBG’s impairment charge — comprising £2.4 billion in the second quarter and £1.4 billion in the first quarter — came…

source https://this.kiji.is/en/661470729835381857?c=648607265489716321

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