Lloyds with 3.25 billion GBP loses for the half year
Compensation to consumers, which had been held at the conclusion of insurance brought losses of 3.25 billion pounds to Lloyds for the first half of the year, but the British bank confirmed its forecast for the year. If we exclude the funds allocated for compensation obligations, the bank's adjusted profit before tax was 1.1 billion pounds, up over 30% less than the profit last year of 1.6 billion pounds. The average grade of economists polled by Reuters was for earnings of 1.1 billion pounds.
"Our forecast for the disclosure of our strategic review of the June 30, 2011 remains unchanged", said a statement from the bank. "We continue to closely monitor economic conditions, particularly in the UK and Euro area", said still there. By Lloyds, which the British government holds a share of 41% after it granted bail, said they have reduced the cost of bad loans by 17% to 5.4 billion pounds, though its subsidiary Wealth & International Report losses of 2.1 billion pounds, mainly because of rising costs in Ireland.
Lloyds and Standard Chartered with good financial reports
Two more of the leading British banks have shown strong results for first half of 2010. After the best accounts of HSBC and the "bad bank" Northern Rock Asset Management, showed good performance today Standard Chartered and Lloyds Banking Group. Profit before tax of Standard Chartered rose by 10 percent annually for the first half on an annual basis, reaching 3.12 billion dollars. This is a strong result for the financial institution that generates over 80% of their revenues to the Asian market, reports suggests. A key event for the bank in the first half of the year is to raise 537 million dollars from the market in India, was carried listing of depository receipts that can be traded on the exchange. So Standard Chartered became the first foreign company that carried the Indian market. Profits of Lloyds Banking Group for the first six months amounted to 1.6 does billion pounds, which is a significant improvement over last year. Then it was reported a loss of 4 billion pounds. With a major contribution to the good profit of the bank 41 percent owned by taxpayers, is the reduction in appropriations to cover bad debts provisions. They have dropped from 13.4 billion to 6.5 billion pounds.
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