Britain’s biggest domestic lender Lloyds Banking Group reported a 27% drop in annual profit in 2019, as it paid out billions of pounds to customers mis-sold insurance products and saw bad loans rise. Lloyds reported a pre-tax profit of 4.4 billion pounds ($5.7 billion), in line with analysts’ expectations as nearly 2.5 billion pounds of provisions for compensating customers mis-sold payment protection insurance weighed. Lloyds announced a dividend of 3.37 pence per share, but no buyback as some investors had hoped for. …read more
Source:: Yahoo Finance
