Britain's biggest lender takes bad loan charge ahead of 'mortgage shock'The boss of Lloyds Banking Group has told Sky News a "mortgage shock" is awaiting around 200,000 of its home loan customers. "There's less than 1% of our customers that we think are going to have a mortgage interest shock like that and what we've been doing is quietly reaching out to them." The bank, which incorporates Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows, also announced it would pay a 1.6p per share final dividend and a share buyback of up to £2bn. The group said rising interest rates and additions to its loan book helped profits almost double over the final three months of 2022. "Profits have been flat year-on-year, with bad loan provisions adding extra costs, among other moving parts.
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