Advertisement
Australia markets closed
  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     
  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     
  • AUD/USD

    0.6492
    +0.0003 (+0.05%)
     
  • OIL

    82.88
    -0.48 (-0.58%)
     
  • GOLD

    2,335.50
    -6.60 (-0.28%)
     
  • Bitcoin AUD

    99,546.20
    -3,306.26 (-3.21%)
     
  • CMC Crypto 200

    1,398.14
    -25.96 (-1.82%)
     
  • AUD/EUR

    0.6072
    +0.0015 (+0.25%)
     
  • AUD/NZD

    1.0949
    +0.0019 (+0.18%)
     
  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     
  • NASDAQ

    17,493.86
    +22.39 (+0.13%)
     
  • FTSE

    8,040.38
    -4.43 (-0.06%)
     
  • Dow Jones

    38,440.16
    -63.53 (-0.17%)
     
  • DAX

    18,088.70
    -48.95 (-0.27%)
     
  • Hang Seng

    17,201.27
    +372.34 (+2.21%)
     
  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

British bank Lloyds says net profit rockets to £2.0bn

The Lloyds Banking Group said net profit surged by more than four times to £2.0 billion in 2016 compared with £466 million a year earlier

Lloyds Banking Group announced soaring annual profits Wednesday on lower charges linked to an insurance scandal, as it awaits a full return to the private sector following a state bailout.

Net profit surged by more than four times to £2.0 billion ($2.5 billion, 2.4 billion euros) in 2016 compared with net profit of £466 million a year earlier, LBG said in an earnings release.