You’d be forgiven for thinking that the entire banking system is on the verge of complete meltdown with all the grim news coming from the financial services industry these days, but apparently it’s not all bad. Lloyds TSB has brought some cheer to the sector with an upbeat annual report showing a 6% year on year profit rise, and an increased shareholder dividend. The bank didn’t entirely avoid taking a hit on the sub-prime balls-up, with £280 million of losses from sub-prime investments, but that’s fairly small beans to a company which made a profit of £3.92 billion last year.
Don’t say we never write about the good news…
