Lloyds profits bounce back as economy improves on the back of vaccine rollout

The group, which includes Halifax and Lloyds Banks, announced results for the first three months of 2021 which saw a big leap from the £74m first quarter profits the previous year.

The figures come as the group revealed a net impairment credit of £323m, having released £459m of previous impairments for loan losses thanks to greater optimism over the UK’s economic recovery from the pandemic.

Lloyds is upgrading its outlook for the full year on a range of measures, including its net interest margin – a key performance measure for retail lenders.

The banking firm employs 6,000 people in Calderdale and have a vast corporate centre on Trinity Road in Halifax.

Lloyds Banking Group was established in 2009 when Lloyds TSB acquired HBOS.