The Lloyds Group states that it has ever gained a half-year profit of £2.5bn an unexpected amount for the last 8 years and succeeded in raising its dividend. It says that it is committed to its lenders and that it had a traumatic financial crisis since 2009 and now unexpectedly it gained a huge profit.
The biggest retail bank of UK, this high street lender reported on Thursday that its statutory profit of pre-tax had risen to 4% in the last six months till the end of June, which is way higher than the last year, despite the fact that it had 1bn pound of conduct charges, relating to PPI primarily.
The CEO of this bank comments that there is no question of leaving the bank and that the bank sets aside a £700 million for compensating people those had insurance policies mis-sold. Further, the bank said that hope it had already cleared facts regarding the scandals.
Lloyd Bank also clearly states that it had an integration of £283m set aside, for compensating those thousands of customers who had been mistreated by the bank whilst they were on their mortgage arrears. Some of the customers were mistreated and wrongly charged during 2009-2016 as per the financial policies charged during their difficult times.
The Chief Executive of Lloyds Antonio Horta-Osorio strongly made a positive comment saying he is happy to be in the bank and is not leaving his job and is highly concerned about the UK economy. The bank will contact its affected customers and will be receiving £350 in interest and repaid fees.