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Lloyds swings back into £2.1bn profit

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Lloyds Banking Group has reported a pre-tax profit of £2.1bn for the first six months of the year after suffering a £456m loss over the same period a year earlier.

Total underlying income increased by 2.1 per cent from £9.2bn in the first six months of 2012 to £9.4bn in the first six months of this year.

The group increased its gross mortgage lending by 17.8 per cent year on year, advancing £14.3bn to mortgage customers in the first six months of the year compared with £12.3bn in the first six months of last year.

Based on gross mortgage lending data from the Council of Mortgage Lenders, this gives Lloyds Banking Group a 19.1 per cent share of the the UK mortgage market for the first six months of the year.

In total there were 76,334 customers in arrears of 90 days or more, a slight decrease on the 76,473 in arrears of more than 90 days in the first half of 2012. This means roughly 2.4 per cent of Lloyds’ mortgage book is in arrears of 90 days or more.

The value of mortgages in arrears of three months of more decreased by £75m year-on-year to £9.5bn at 30 June.

The total number of repossessions increased from 2,348 cases at 31 December 2012 to 2,681 at 30 June.

At 30 June the group’s average new loan-to-value of new residential lending was 63.4 per cent compared with 62.3 per cent at 31 December.

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There is one comment at the moment, we would love to hear your opinion too.

  1. Matt Worthington 1st August 2013 at 9:07 am

    Brilliant! As a loyal Lloyds TSB customer I eagerly await a reduction in my banking fees – reckon they’ll pass it on this month or next? Or the month after…or after that…

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