Lloyds losses due to PPI provisions

Lloyds said its £570m loss was "primarily due to PPI provisions" of £3.5 billion.

Lloyds Banking Group has reported a loss £570m. Credit: Press Assocation

It said underlying profit for 2012 was £2.6 billion, an increase on the £638 million posted for 2011.

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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.