International Edition


April 28, 2017

Breaking News, World News and Taiwan News.
About Us
Contact Us

Missold loan insurance costs Lloyds another 1 bil. pounds, drags down Q3

LONDON -- Lloyds Banking Group took another 1-billion-pound (US$1.6 billion) hit to compensate customers missold loan insurance, taking its charge for the scandal to 5.3 billion pounds and dragging it to a third-quarter loss.

But Britain's biggest retail bank on Thursday provided a more upbeat message on falling losses from loans that turn sour and said its cost-cutting program was ahead of target.

Lloyds has reduced its loan book, cut costs and reined in bad debts as part of a recovery plan devised by Chief Executive Antonio Horta-Osorio to turn around the bank, which was bailed out in 2008 leaving Britain with a 40-percent stake.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive our promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search