Lloyds predicts drop in defaults on loans and mortgages as UK economy improves
by Kalyeena Makortoff Banking correspondent from Economics | The Guardian on (#6PFP3)
Bank sets aside just 44m for bad debts and defaults in second quarter amid upbeat outlook
Fewer borrowers are likely to default on their loans and mortgages, Lloyds has said, as the banking group upped its forecasts for the UK economy.
In fresh estimates released as part of its second-quarter results, Lloyds said it expected the economy to grow 0.8% in 2024 - double the rate of growth it expected back in April, when it predicted a 0.4% rise.
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