<p>The entity, had a profit of 2.8 billion pounds in the same period a year ago, it said on Wednesday. <br /><br />Battling the financial meltdown, impairment charges soared to 13.4 billion pounds, primarily due to the legacy loans of HBOS. The firm was acquired by Lloyds in January this year.<br /><br />The charges have ballooned by 10.9 billion pounds as compared to the same period a year ago. “Around 80 per cent of the first half charge was associated with legacy HBOS’s loans, the majority of which are outside the traditional Lloyds low-risk appetite,” it said.<br /><br />Noting that the economy is expected to stabilise in the second half of this year, Lloyds said that its results are anticipated to improve during the same period.</p>
<p>The entity, had a profit of 2.8 billion pounds in the same period a year ago, it said on Wednesday. <br /><br />Battling the financial meltdown, impairment charges soared to 13.4 billion pounds, primarily due to the legacy loans of HBOS. The firm was acquired by Lloyds in January this year.<br /><br />The charges have ballooned by 10.9 billion pounds as compared to the same period a year ago. “Around 80 per cent of the first half charge was associated with legacy HBOS’s loans, the majority of which are outside the traditional Lloyds low-risk appetite,” it said.<br /><br />Noting that the economy is expected to stabilise in the second half of this year, Lloyds said that its results are anticipated to improve during the same period.</p>