CEO upbeat over Brexit, interest rates and economy as half-year figures rise to £3.1bn
Profits at Lloyds Banking Group jumped by almost a quarter in the first half of the year despite taking another hit of £550m to cover claims from mis-sold payment protection insurance.
The high street lender said pre-tax profits rose 23% to £3.1bn in the six months to 30 June, on higher interest income and lower costs. An additional £460m PPI provision in the second quarter took the half-year charge to £550m – which was hefty but less than the £1bn Lloyds put aside at the same time last year.
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