21 FEB

Lloyds Bank profits climbed 24% — but it is still feeling the pain from PPI claims

A woman uses a cash machine at a Lloyds Bank branch in central London, Britain February 25, 2016. REUTERS/Paul Hackett Thomson Reuters

  • Lloyds Bank profits increased 24% in 2017, with the bank bringing in £5.3 billion profit before tax.
  • The bank also started a £1 billion plan to buy back shares.
  • “2017 has been a landmark year for the group,” said Lloyds chief executive Antonio Horta-Osorio.

Lloyds Bank annual profits leapt by almost a quarter despite a jump in PPI payouts.

The figures

Net interest income rose 8% to £12.3 billion while operating costs were 1% higher at £8.2 billion.

See the rest of the story at Business Insider

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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