Sir Victor Blank commenting on the results said: “’We know the short-term outlook for the enlarged group is challenging. Whenever economic conditions do begin to normalise, however, we believe we will be in a very strong position to reap the benefits. Our strong franchise across the whole range of product lines will enable us to do just that. In the meantime, our imperative is to manage the business as effectively as possible during these challenging times, and we have the team to do this.”
Following its announcement yesterday, Lloyds Banking Group confirms that its discussions with HM Treasury about participating in the Asset Protection Scheme are progressing and are well advanced. Whilst there can be no certainty about the outcome, the Group will provide a further market update in due course.
