Lloyds TSB profit set to meet estimates
By Jon Menon and Ben Livesey | China Daily | Updated: 2007-12-11 07:48
Lloyds TSB Group Plc, the United Kingdom's biggest provider of personal loans, said profit in 2007 will meet analysts' estimates after a writedown on investments.
"Underlying earnings for 2007 are in line with expectations," said yesterday. Analysts estimate pretax profit will rise to 4.1 billion pounds, from 3.84 billion pounds in 2006. The company wrote off 200 million pounds from slumping credit markets.
UK banks face a slowdown in mortgage lending revenue next year as the decade-long housing boom falters amid increased funding costs.
Bloomberg News
(China Daily 12/11/2007 page16)
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