LONDON: Lloyds Banking Group’s pre-tax profit jumped 22% in the first quarter as costs fell and margins improved, strengthening the bank’s plan to pay its first dividend since it was rescued during the financial crisis.
Lloyds, which is 25%-owned by the government, said on Thursday it made an underlying profit of £1.8bil pounds in the first quarter, helped by a 5% fall in costs from a year ago to £2.3bil.
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