Lloyds Banking Group booked a pre-tax loss of £4 bn (EUR 4.7 bn) as bad debts in the first half of the year rose to £13.4 bn, of which £10.7 bn came from HBOS. The bulk of the bad loans comprised commercial real estate loans, the bank said.
Lloyds Banking Group booked a pre-tax loss of £4 bn (EUR 4.7 bn) as bad debts in the first half of the year rose to £13.4 bn, of which £10.7 bn came from HBOS. The bulk of the bad loans comprised commercial real estate loans, the bank said.
It said 70-80% of the £13.4 bn of impaired loans related to assets intended to be included in the UK government's asset protection scheme.
Lloyds is 43%-owned by the UK government after taxpayer cash was used to rescue the lender.
