For the first half of 2017, Lloyds Bank received the maximum profit for 8 years

One of the largest banks in the United Kingdom, the Lloyds Banking Group has reported the highest semi-annual pre-tax profit since 2009, according to its representatives, about 2.5 billion pounds sterling or 3.28 billion dollars at current rates. This value is 4% higher than last year’s figure, and the last time such results were achieved only  8 years ago at the end of the crisis of 2008-09. This allowed 18% increase in interim dividends, up to a pence per share.

However, a spoonful of tar was found on the barrel of honey – along with the profit, the costs for compensating the clients for solvency insurance increased significantly, so the bank’s management decided to revise the standards of consumer lending in the direction of tightening. In addition, Lloyds had to withhold another 700 million pounds (more than $ 919 million) in case of possible compensation payments in the near future. This is not surprising, since the IMF recently published a very negative outlook on the British economy, which, in their opinion, due to Brexit must suffer in the context of the current world crisis much more than any other developed countries.