Lloyds has revealed its earnings dipped this year as the banking giant generated less income despite borrowing costs remaining higher. The banking group, which also includes Halifax and Bank of Scotland, said it made a pre-tax profit of £3.3 billion in the first six months of the year. This marks a 14% decline from the £3.9 billion reported this time last year although it is higher than some analysts had predicted.
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00:00Hello, my name is Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.
00:05Here are your headlines for this morning.
00:07Lloyd's has revealed its earnings dip this year, as a banking giant generated less income, despite borrowing costs remaining higher.
00:16The banking group, which also includes the brands Halifax and Bank of Scotland, said it made pre-tax profit of £3.3 billion in the first six months of the year.
00:26This marks a 14% decline from the £3.9 billion reported this time last year.
00:31However, it comes in higher than some analysts had predicted.
00:35The bank also revealed its balance sheet grew this year.
00:39That's an update this morning from Lloyd's, which has revealed its earnings dip this year, as a banking giant generated less income.
00:46My name is Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.