100 percent profit increase from Lloyds

Lloyds Banking Group announced its financial results for the third quarter of the year.

Accordingly, the group made a pre-tax profit of 2.33 billion pounds in the said period. This amount increased by 98.6 percent compared to the bank's pre-tax profit of 1.17 billion pounds in the same period last year. The group recorded an expense of £875 million for compensation payments and corrective actions to customers in the third quarter of last year.

The bank's revenues in the July-September period also increased to 5.1 billion pounds. Revenue in the third quarter of last year was £4.6 billion.

The net interest income provided by the performance of corporate customers and private banking unit and the growth in loan volume were effective in Lloyds Group's profit increase.

On the other hand, British Finance Minister John Healey stated that, within the scope of the Autumn Budget announced yesterday, they will increase the additional corporate tax paid by banks on their profits from the current level of 3 percent to 6 percent for 15 months.

Healey stated that this application would be used to finance support for household energy bills.