Lloyds profit down a fifth, extra £700mln set aside for motor finance probe
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Lloyds Banking Group PLC reported a 20% drop in pre-tax profit for the year, setting aside £700 million for a motor finance mis-selling probe.
February 20, 2025 | 8:00 am
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Lloyds Banking Group PLC's pre-tax profit fell by 20% last year, with an additional £700 million reserved for a motor finance mis-selling investigation.
The significant drop in profit and the large sum set aside for legal issues are likely to negatively impact investor sentiment and put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100