Lloyds Targets Another £2bn Cost Cutting as Half Year Profit Jumps by 23% Lloyds Banking Group's latest profits report shows a welcome improvement in pre tax profit to £4.
3 billion for the six months to June, up 23% on the same period last year. The increase is largely driven by increased income and more controlled business costs.
However, Lloyds' decision to target further cost cuts of an additional £2 billion by 2030 raises questions about the sustainability of this approach in an already streamlined industry.