Full Year Results 

Lloyds operating costs fall

Lloyds operating costs fall

Financial headlines do not always point investors in the right direction. Take the media’s interpretation of Lloyds Banking Group’s (LLOY) full-year results, which seized on the full £2.45bn provision for payment protection insurance (PPI) claims, its impact on statutory profit, and the knock-on effect for chief executive António Horta-Osório’s variable pay, which halved to £1.8m. 

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