Lloyds Bank expected to post flat profits due to Brexit


Lloyds Banking Group are expected to post flat profits next week over the impact of Brexit and economic uncertainty.

Analysts forecast the bank are to post pre-tax profits of £2.05bn in the first quarter, compared to £2bn last year.

Nicholas Hyett, equity analyst at Hargreaves Lansdown said, “Lloyds is something of a Brexit barometer.

“One component of cost we’ll be watching closely is impairments due to bad loans.

“UK employment and wages have held up fairly well so far, but increased credit card and car finance activity means a downturn would hit Lloyds’ books pretty quickly.”