Lloyds ‘cautious’ on Irish loan portfolio
Lloyds Banking Group said it remains "cautious" on its Irish loan portfolio due to the outlook for the economy.
While the bank forecasts a decline in total impairments this year and next, it “remains cautious on the Irish portfolios,” it said in a statement today.
“We continue to have ongoing concerns with regard to the outlook for the Irish economy although we expect 2009 to have been the peak for the International impairment charge,” it said.
Lloyds earlier this month announced plans to axe 760 jobs from it's Irish workforce as it closes its retail unit here.