Lloyds TSB warns over bad debts

Lloyds TSB said today that it was on course to deliver a strong set of results for the first half of the year but warned of further bad debts at its high street bank.

The group said impairment losses at its UK retail banking arm were on the increase but at a slower rate than last year when bad debts hit £905m (€1.3bn) as more customers struggled to repay money on time.