Lloyds reserves £300m for endowment mis-selling - papers 13th Dec

Britain’s fifth-biggest bank by market capitalisation said the increased provisions would also cover the cost of paying annuities to people living longer than expected, says the Times. Despite the extra charge, Lloyds TSB said it remained on track to meet analysts’ forecasts for this year and the current consensus for profit before tax for the year ending December 31 is said to be £3.3bn. Lloyds yesterday said it had seen slower growth in lending for credit cards and other unsecured products in the second half and a further deterioration in credit quality, resulting in increased bad deb...