Jump in profits at Lloyds Bank

Lloyds Banking Group, Trinity Road, Halifax.
Lloyds Banking Group, Trinity Road, Halifax.

Lloyds Bank, which employs over 6,000 staff in Calderdale, has reported a jump in profits of nearly a quarter for the first three months of the year.

The bank made pre-tax profits of £1.6bn, an increase of 23 per cent on the same time in 2017.

Chief executive Antonio Horta-Osorio said the business had made a strong start to the year and that the UK economy remains resilient, benefiting from low unemployment and continued growth.

The government sold its remaining shareholding in the bank Lloyds in May last year, after spending £20bn to save it eight years ago.