Profits down at Lloyds as financial instability begins to bite

Lloyds Banking Group has seen profits and income fall between July and September as financial uncertainty has made life difficult for Britain's biggest high street lender.

Lloyds Banking Group has seen profits and income fall between July and September as financial uncertainty has made life difficult for Britain's biggest high street lender.

Total income net of insurance was £5,075m in the third quarter, down 5.5% on the April to June period and down 8% on the equivalent period of 2010. The income figure was, however, significantly better than some analysts had been predicting (Credit Suisse had forecast £4,710m for example).

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