You are here

Lloyds to cut 3,000 jobs in expense push after Brexit vote

Lender's pre-tax profit, excluding one-time items, is down to £4.16b in H1, from £4.27b a year ago

BT_20160729_NAHCUT20_2411160.jpg
A potential slowdown in the wake of Britain's vote to leave the EU a month ago is adding to the pressure that persistently low interest rates have put on Mr Horta-Osorio's plans to boost earnings.

London

LLOYDS Banking Group plc will eliminate an additional 3,000 jobs and a further £400 million (S$712 million) of annual expenses, as the UK's largest mortgage lender attempts to stave off a "Brexit"-induced earnings slump.

Pre-tax profit, excluding one-time items, fell to £4.

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom