Lloyds results unsurprising
August 5, 2009 11:52 AM
Lloyds Banking Group announced today that they made a loss of £4bn in the first six months of 2009.
After the figures were released Liberal Democrat Shadow Chancellor, Vince Cable said:
"This news comes as no surprise. We knew that Lloyds was opening a can of worms when it took over HBoS.
"But the real issue we now face is why banks aren't lending.
"As losses come to fruition, the banking industry has lurched from recklessness to the other extreme.
"The Government must put pressure on the banks to start lending to sound and solvent companies, to prevent this recession becoming deeper and more painful than it already is."
ENDS
