Lloyds reports 33 percent rise in first quarter profit
Lloyds reported a pre-tax profit of 2 billion pounds for the first quarter. This beat analyst estimates as the bank cut costs and grew lending income.
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LLOYDS BANKING GROUP PLC reported a 33% rise in first-quarter statutory pre-tax profit to £2B ($2.70B) on Wednesday morning. The result beat the £1.84B average analyst estimate and surpassed the £1.52B recorded in the same period last year. Stronger lending income and reduced operating costs keep the United Kingdom lender on track for its annual targets.
