Lloyds lightens 2020 ECL forecast, but projects a gloomier 2021

Lloyds used a rosier macroeconomic forecast for 2020 to set its Q3 loan-loss provisions, but is now predicting a tougher 2021 than it did the quarter prior.

The UK lender said it expects total loan-losses for the year to come in at the lower end of the £4.5 billion–5.5 billion ($5.8 billion–7.1 billion) range it provided at end-June. Over the nine months to end-September, loan-loss reserves amounted to £4.1 billion. However, just £301 million were incurred in Q3.

The bank’s expected credit

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 copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here