Lloyds Banking Group has returned to the black
with a pre-tax profit for fiscal 2010 of £2.2m ($3.5m), compared
with a loss of £6.3m loss in 2009.
After one-off integration cost arising from
its acquisition of HBOS and taxation, the bank fell into the red
with a net loss of £258m, compared with a net profit of £2.95bn in
fiscal 2009.
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Profit before tax at the bank’s retail banking
business more than tripled from the previous year, from £1.4bn in
2009 to 4.7bn in 2010.
Impairment charges at the unit fell by 35% to
£2.75bn.
Retail banking net interest income increased
18% year-on-year to £9.4bn.
Retail deposits were up 5% year-on-year to
£235bn.
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By GlobalDataLloyds’ cost-income ratio fell from 48.4% to
46.6% in the twelve months to 31 December.
