26 days ago
Investing.com UK
FILE PHOTO: A sign hangs outside a Lloyds Bank branch in London, Britain, February 21, 2017. Lloyds set aside 1.5 billion pounds in 2022 to cover potential loan distress, a year after releasing 1.4 billion pounds of provisions as the economy rebounded from COVID-19. "Higher interest rates may have boosted income over the past year, but the uncertain economic outlook they are contributing to is also forcing banks to put aside more provisions," City Index Market Analyst Joshua Warner said. The bank reported pre-tax profit of 6.9 billion pounds ($8.4 billion) for 2022, unchanged on the previous year and in line with analyst forecasts it had compiled. It plans to pay a 1.6 pence per share final dividend and a share buyback of up to 2 billion pounds, taking total shareholder returns for 2022 up to 3.6 billion pounds.
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