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Bailed-out Lloyds Banking posts surge in 2016 profit

Earnings more than quadruple; bank takes lower £1b hit to compensate customers who were mis-sold insurance

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Mr Horta-Osorio says the bank continues "to make good progress against our strategic priorities"

London

LLOYDS Banking Group (LBG) on Wednesday announced soaring annual profits on lower charges linked to an insurance scandal, as it awaits a full return to the private sector following a state bailout.

LBG pointed to an "uncertain" economic outlook as Britain prepares to exit

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