lloyds bank

Lloyds reports highest profit in decade

Lloyds Banking Group has reported its highest annual profit in a decade, helped by a reduction in payment protection insurance (PPI) provisions. Pre-tax profits increased by 158% to £4.24bn, a level last seen in 2006 before the financial crisis. Provisions for PPI declined from £4bn to £1bn, bringing the total to £17bn. The UK government’s […]






HSBC

HSBC blames ‘largely unexpected economic and political events’ for 62 percent drop in annual pre-tax profit

HSBC Holdings reported a 62 percent slump in annual pre-tax profit that fell way short of analysts’ estimates due to one-time charges related to some businesses, and announced a new $1 billion share buy-back. * 2016 pre-tax profit at $7.1 billion vs. $14.4 billion analysts’ estimate * Takes $3.2 billion impairment charge on Europe global […]