Lloyds suffer €4.7bn loss due to HBOS bad debts

Part-nationalised British lender Lloyds Banking Group today said it made a £4bn (€4.7bn) half-year loss as HBOS’s reckless lending took its toll.

The bank, which is 43% owned by the Government, said impairments on bad debt rose “significantly” to £13.4bn (€15.7bn), largely due to HBOS.