LONDON: Britain's state-rescued Lloyds Banking Group on Thursday reported a first-half net loss of £2.3 billion (2.6 billion euros, $3.8 billion) after being forced to compensate clients who were mis-sold insurance.
LBG, which last month axed 15,000 jobs as it bids to halve its international division, said its loss after tax for the six months to June compared with a net profit of £596 million in the first half of 2010.
Copyright AFP (Agence France-Presse), 2011
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