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Lloyds Banking Group has reported a £3.9bn ($6.3bn) loss for the first nine months of 2011, mainly due to the cost of settling claims for mis-selling payment protection insurance (PPI). The pre-tax loss for the period ending 30 September compares with a profit of £2bn a year earlier. Lloyds said that during the nine months it spent £3.2bn covering PPI claims. Its total income for the period also fell 15% to £15.3bn, indicating a decline in business levels.
Lloyds said its latest results came against a...Read more HERE
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