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Improved outlook flatters Lloyds

Lloyds' investors must wait for their jam, but an improving economic outlook boosts the bottom line
Improved outlook flatters Lloyds

 

  • Expanding presence in wealth management
  • Restoration of interim dividend

Interims results for Lloyds (LLOY) were flattered by a net £636m credit gain as the bank released capital set aside to cover pandemic-related impairment losses. The fact that the economy didn’t quite go to hell in a handcart, due to a combination of government furlough schemes, business interruption loans and businesses not automatically shut by lockdown adapting their operations, were all positives for Lloyds which, in a move that will cheer investors, also restored its interim dividend.

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