LONDON: Britain's state-rescued bank Lloyds on Friday posted annual pre-tax profits of £2.212 billion (2.582 billion euros, $3.572 billion), slashing bad debts as it recovered from a steep loss.
Lloyds Banking Group said in a results statement that its 2010 earnings compared with a sharp pre-tax shortfall of 6.3 billion pounds in 2009. The group added that provisions for bad debts sank 45 percent to £13.181 billion.
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