Lloyds GBP4bn Loss Blames HBOS
Published / Last Updated on 04/08/2009
Lloyds £4bn Loss Blames HBOS
Lloyds Banking Group has made a half-year loss of £4bn and has blamed much of this, i.e. just over £3bn, on losses incurred as a result of the HBOS take over.
The now, state owned, Bank suggested that it had made £13.4bn in write down losses, directly as a result of the HBOS’s lending business but that Lloyds technically would have made a pre-tax profit had it not been for this.
Given that we, and the public, are not party to all relevant facts, most of us can only sympathise with a business that was comparatively well run, being dragged into public ownership on the back of other bankers lending folly.
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