Fewer borrowers likely to default as Lloyds ups UK economy growth forecast to 0.8% in 2024, double the previous 0.4% prediction, indicating positive economic conditions.
Lloyds' provision for bad debts down 89% in second quarter, reflecting improved financial stability for customers with rising real wage growth and strengthening cashflows.
Lloyds' profitability impacted by 9% drop in net interest income due to tougher competition, necessitating lower loan charges and higher interest payouts to attract customers.
Lloyds' pre-tax profit up 5% in Q2 amidst economic improvements, with CEO Nunn highlighting potential for further growth through collaboration with the government on growth plans.
Collection
[
|
...
]