Lloyds Q1 profit jumps as CEO Horta-Osorio heads for exit By Reuters
LONDON (Reuters) - Lloyds Banking Group (LON:LLOY) reported better than expected profits for the first three months of the year, in outgoing Chief Executive António Horta-Osório's last set of results at Britain's biggest domestic bank. Lloyds reported 1.9 billion pounds ($2.64 billion) pre-tax profit for the first quarter on Wednesday, compared to an average of analyst forecasts of 1.1 billion pounds. The bank had posted a narrow 74 million pound quarterly profit the prior year. The bank's profits were boosted by the release of a 459 million pound chunk of its provisions for expected bad loans...
Continue reading