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Additional Information
Market: LSE
Sector: Banks
EPIC: LLOY
Latest Price: 36.36p  (2.01% Ascending)
52-week High: 91.00p
52-week Low: 21.65p
Market Cap: 24,989.00M
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Lloyds TSB
www.lloydstsb.com

Lloyds TSB is a UK based financial services group, providing a comprehensive range of banking and financial services.

Full Lloyds TSB profile here
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Lloyds sees profitable 2010, notes better-than-expected bad debt trends

19th Mar 2010, 9:52 am Lloyds sees profitable 2010, notes better-than-expected bad debt trends

Lloyds Banking Group (LSE: LLOY) said its trading performance has been strong in the first 10 weeks of 2010, and it believes it will be profitable on a combined businesses basis in 2010. Lloyds said it is pleased with its performance against each area of recent guidance, the bank's net interest margin is trending in line with recent guidance which has supported a good level of income growth.

The company noted an improving situation in terms of it impairment provisions , or bad-debt write downs, saying impairments are trending at lower levels than anticipated. The company now expects to deliver a better impairment performance in 2010 than previously stated, for both the retail and corporate businesses.

Costs have remained well controlled and are lower than the equivalent period in 2009, Lloyds said.

Lloyds’ current economic and regulatory assumptions remain unchanged since the 2009 preliminary results, and it intends to publish its interim management Statement on 27 April 2010.

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