Dark Covid outlook pumps up Lloyds’ loan-loss reserves

- By Abdool Fawzee Bhollah and Louie Woodall
- 30 Jul 2020

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

UK lender Lloyds took a £2.4 billion ($3.1 billion) charge for expected credit losses (ECL) on souring loans in Q2, pushing its overall stock of loan-loss reserves to £7.2 billion, close to double its amount at end-2019.

The firm said an update to the macroeconomic scenarios it uses to gauge future impairments drove the ECL build. This contributed £1.8 billion to provisions in Q2, and £2.6 billion over the first six months of the year. Charges related to exposures that were undergoing

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info@risk.net to find out more.

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net