Lloyds facing funding pain

Lloyds' hefty reported loss largely reflects a £3.2bn provision against payment protection insurance claims. But increased funding costs, as reliance on cheap Bank of England liquidity falls, cut the group's net interest margin by 14 basis points to 2.07 per cent. There's more margin pain ahead, too, since £23.5bn in total of Treasury guaranteed debt must be repaid by October.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now