From The Times: Lloyds braced for £13bn writeoff (about $21 billon)
LLOYDS BANKING GROUP is poised to write off as much as £13 billion on its loans to commercial property, businesses and mortgage holders ...Remember when a multi-billion dollar writeoff was shocking?
First-half results due to be posted in three weeks will show that its losses are accelerating ...
UBS analysts expect Lloyds to announce a bottom line half-year loss of £6.3 billion as a result of the soaring provisions.