Lloyds report decline in pre-tax profits

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Source: Bloomberg
© Scanpix/APF

Lloyds Banking Group admits they may fail to accomplish their financial goals despite the lowered provisions for bad debt in 3rd quarter.  Lloyd's pre-tax profit decreased from ВЈ820m pounds in 2nd quarter to ВЈ644m in 3rd creating a total of 21% decline in profits. As economists are not expecting repo rate increases from BoE, Lloyds may have to restrain its margins and postpone income objectives set for 2014.

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