Insurance industry costs weren’t kind to Lloyds Banking

Lloyds Bank Insurance Industry News

The expenses from that sector have led the company to experience a loss in 2012. Lloyds Banking Group has been able to essentially slash its losses in half in 2012, despite the fact that it had to come up with a tremendous amount of money to set aside in order to make payments for the insurance industry scandal in which it mis-sold coverage products. Its full year loss has now been revealed to be £1.34 billion ($2 billion) which is much lower than its 2011 deficit. The bank has now…

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