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PPI Claim News - 26/2/2010

Bank Charges: Taxpayer bank's £6.3bn loss

The part-nationalised Lloyds Banking Group (LBG) has reported losses for 2009 in excess of £6.3 billion today.

Its debts have been attributed to the acquisition of the financially burdened HBOS in 2008, which created £24 billion in bad equity for the company, due to the high number of commercial property loans HBOS granted before the economic crash.

Today's announcement may act as little comfort to UK taxpayers, who own a 42 per cent stake in the bank following a government bailout during the HBOS merger with the previous named Lloyds TSB.

LBG's huge losses come after it emerged yesterday that the Royal Bank of Scotland, which is 84 per cent taxpayer-owned, had reported a £3.6 billion shortfall for 2009.

But despite the financial situation of the bank, RBS is to administer over £1.3 million in bonus payouts to its highest performers, a move which has been criticised by financial journalists and economists.

Meanwhile, independent bank Barclays netted £11.6 billion profits last year, an increase of 92 per cent compared to the previous year.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last six years from Lloyds then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000.ADNFCR-2776-ID-19639209-ADNFCR

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