LONDON: Lloyds Banking Group Plc, Britain’s largest mortgage lender, boosted its dividend and said lending margins would hold up this year amid record-low UK interest rates as the bank swung to a fourth quarter profit.
Pretax profit was £973mil (US$1.22bil), compared to a loss of £507mil a year earlier, the London-based bank said in a statement yesterday. Excluding one-time charges, profit rose 2% to £1.79bil, topping the £1.71bil average of seven analyst estimates compiled by Bloomberg News.
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