LONDON, July 30 (Xinhua) -- The Lloyds Banking Group, a major British financial institution, reported on Thursday a pre-tax loss of 602 million pounds (782 million U.S. dollars) for the first half of 2020 year-on-year, as the coronavirus pandemic has been battering the country's economy.
The most significant impact of the coronavirus is seen in the impairment charge. The bank said it set a 3.8-billion-pound (4.9-billion-dollar) provision for bad loans, including 2.4 billion pounds (3.1 billion dollars) in the second quarter, primarily reflecting a significant deterioration in forward looking economic outlook.
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