Savers might have cause for complaint – but Lloyds is doing fine

The bank is in rude health even if it is having to cope with some modest competitive pressure and slowly rising debt, says James Moore

Lloyds says it is seeing ‘modest’ increases in borrowers falling into arrears (PA)

Lloyds CEO Charlie Nunn likes to talk about the bank’s “purpose-driven strategy”.

His savers aren’t seeing much sign of that.

The bank has just turned in what could justifiably be described as a robust set of results, with pre-tax profits up 50 per cent and “underlying” earnings showing a 27 per cent rise, ahead of City forecasts.