Lloyds posts losses of £570m

Part-nationalised Lloyds Banking Group narrowed losses to £570 million in 2012 from £3.5 billion the previous year.

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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.