(Bloomberg) — Lloyds Banking Group Plc’s profit was wiped out by a fresh 2.4 billion-pound ($3.1 billion) charge for bad loans in the second quarter as the lender braces for more pain from the coronavirus pandemic.Britain’s biggest mortgage lender said Thursday it now expects to set aside between 4.5 and 5.5 billion pounds during this year to cover the economic fallout from months of lockdown and the end of government support programs.“The outlook has clearly become more challenging since our first quarter results, with the economic impact of lockdown much larger than expected at that time,” said Chief Executive Officer …read more
Source:: Yahoo Finance
