Agence France-PresseFebruary 13, 2014 06:04
Britain's state-rescued bank Lloyds cut net losses in 2013 and ramped up staff bonuses, but its performance was hit by a vast compensation bill for mis-selling, it reported on Thursday.
Losses after tax stood at £838 million ($1.39 billion, 1.01 billion euros) last year.
That compared with a net loss of £1.471 billion in 2012, Lloyds Banking Group (LBG) said.
The bank took a vast provision of £3.5 billion, primarily relating to compensation for customers who were mis-sold payment protection insurance.