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Bank profits forecast.

LLOYDS Banking Group flagged up a return to profit this year after reporting a better picture on bad debt.

The group, which is 41% taxpayer-owned after rescuing ailing HBOS, believes it will be "profitable on a combined business basis" in 2010. Lloyds racked up pounds 24bn in bad debts during 2009 - mainly due to the toxic debts in theHBOSloan book - which led to a pounds 6.3bn loss last year.

But the bank, with 3m small shareholders, reported "strong" trading in the first 10 weeks of 2010 and has clamped down on costs.
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Title Annotation:Business
Publication:Huddersfield Daily Examiner (Huddersfield, England)
Date:Mar 20, 2010
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