Lloyds profits beat expectations thanks to interest rate boost

The banking giant revealed its pre-tax profits totalled £1.8billion for the three months ending September, 2 per cent down on the same period last year.
Lloyds Banking Group's profits beat estimates in the third quarter thanks to strong income growth on the back of higher interest rates. The banking giant revealed its pre-tax profits totalled £1.8billion for the three months ending September, 2 per cent down on the same period last year but ahead of the £1.6billion forecast by analysts.Net income increased by 5 per cent to £4.3billion from the prior quarter as the firm benefited from a slightly higher net interest margin - the difference...

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