Lloyds returns to profit as bad debts fall

While the bank did not announce a figure, it expects to continue building profits throughout the year after a "significant slowing" of bad debts. The bank says deposit gathering has remained robust, with good growth in balances. Lloyds says it also continues to de-risk its funding position, with strong term issuance in the early part of the year, while maintaining high levels of liquid assets. "The group is continuing to see positive trends in line with our recent trading update on 19 March 2010," Lloyds group chief executive Eric Daniels says. "In particular, impairments have slow...