Lloyds Banking Group (LYG.US) Q1 profit falls by 7% to 1.52 billion, increased risk provisions dragging down performance.

Wisdom Capital APP learned that the financial report disclosed by the UK's largest mortgage lender, Lloyds Bank (LYG.US), showed that the bank's pre-tax profit for the first quarter of the fiscal year 2025 decreased by 7% year-on-year to 1.52 billion pounds (about 2 billion US dollars), slightly below market expectations. Despite a 4% year-on-year increase in loan balances to 466.2 billion pounds, management acknowledged that economic uncertainty is dragging down business growth.