Lloyds Banking Group has posted a 38% hike in statutory profit before tax to £4.49bn in the first nine months of the year.
It reported £469m of restructuring costs over the period to the end of September, which in part related to the rationalisation of the bank’s non-branch property portfolio.
Its third quarter profits were £1.95bn, which represented a 141% year-on-year increase after a weak period last year when the bank had to pay a fine for the payment protection insurance scandal.
The bank also reported that income for the nine-month period rose by 6% year-on-year to £13.9bn, while its costs fell by 1%.
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