first_img Tags: NULL Lloyds More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Show Comments ▼ whatsapp Share CONSIDERING the turmoil that Lloyds has been through in recent years, it would be wrong to expect anything other than a mixed picture at this stage in its long march back to health. Still, it would be nice if the image were a little clearer, a fact not helped by management’s aversion to numbers in yesterday’s remarkably sketchy trading update.There was good underlying income growth and a modest improvement in the all-important net interest margin (NIM), which stood at 2.08 per cent in the first half. Elsewhere, impairments continue to fall, albeit at a slower rate, with some analysts worried that it is too early for Lloyds to be losing steam at this juncture in its recovery. The mix of impairments has also shifted, with Ireland’s woes taking their toll on the loan book in the Republic. However, an improving environment in wholesale, where write-offs are falling more quickly than expected, is said to have offset the worst of the impact. Meanwhile, Lloyds continues to wean itself off of government funding, a necessary if painful process. But investors should urge caution until we get the full numbers. Tuesday 2 November 2010 9:54 pm KCS-content whatsapplast_img read more