Lloyds Banking Group reported its pre-tax profits fell to £644 million in the three months to September — a 21% drop from the previous quarter.   

In the first nine months of the year, group income was down 15% from the same period last year, driven in part by subdued lending demand, customer deleveraging, and higher wholesale funding costs, according to Lloyds. Outstanding consumer loan balances dropped by 5% in September from a year earlier.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.