Published Date:
25 June 2009
THE Lloyds Banking Group has warned that it expects its Lloyds TSB Scotland subsidiary to record unusually high levels of bad debts this year.
The firm said the recession will leave consumers and businesses struggling to pay off loans.
The latest company accounts reveal that pre-tax profits at the subsidiary fell by 23 per cent to £89.8 million in the 2008 calendar year. There was a dramatic increase in the amount charged to the profit and loss account for bad debts, from £41m to £63.6m.
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Last Updated:
25 June 2009 10:33 AM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
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Related Topics:
Lloyds TSB
