Lloyds Banking Group loss better than expected

Lloyds' loss of £570m is better than expected but sets aside extra £1.5 billion for PPI - worse than expected.

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Lloyds post loss of £570m

Lloyds Banking Group, which is 40% owned by the taxpayer, has recorded losses of £570 million last year. It has set aside £1.5bn for compensation for the PPI scandal.