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Lloyds braces itself for fresh £1 billion redress charge

Despite the charge provision, analysts expect it to post Q3 pre-tax profit of £1.49 billion
Monday, October 26, 2015 - 05:50
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Lloyds Banking Group plc will probably take a further £1 billion (S$2.1 billion) charge for wrongly sold loan insurance in the year's second half, undermining efforts to clean up the bank as the government prepares to sell shares to individuals.

London

LLOYDS Banking Group plc will probably take a further £1 billion (S$2.1 billion) charge for wrongly sold loan insurance in the year's second half, undermining efforts to clean up the bank as the government prepares to sell shares to individuals.

The UK's largest mortgage