The closures are spread across the UK, and come after Lloyds Banking Group already closed … The head of Lloyds' commercial bank said fraud rates were much higher than on normal lending schemes. Banks in Britain came under huge pressure to process billions of pounds of so-called 'bounce back' loans to companies struggling to stay afloat in lockdowns since March to fight the pandemic. Major banks including Lloyds, Santander and RBS are providin… Lloyds has made 3,750 government-backed coronavirus business interruption loans worth close to £500m to business customers. Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows are all under the Lloyd’s Banking Group umbrella. The rate of fraud for state-backed loans to small companies in the COVID-19 pandemic is about five times normal levels, a senior Lloyds bank executive said on Monday. Fraudsters could make off with over £400m ($533m) of UK taxpayer money stolen through COVID-19 support loans. Lewis went on to explain it was unlikely the Government would let the bank go bust, as it was such a crucial institution. Lloyds Banking Group has announced that 56 Lloyds Bank, Halifax and Bank of Scotland branches will close between April and October 2020. Lloyds Banking Group's first quarter pretax profit was all but erased by provisions against expected bad loans due to the coronavirus pandemic, although Britain's biggest bank … HOUSE prices are expected to take a 5 per cent hit this year due to the coronavirus crisis. The shares have lost over 90% of their value in three-and-a-half years. HUNDREDS of thousands of small businesses are being blocked from coronavirus loans as banks reject new customers, according to research. Photo: AP Photo/Kirsty Wigglesworth. That’s pretty paltry compared with the total of £4bn lent across the UK. Photo: Isabel Infantes / AFP via Getty Images. Lloyds Banking Group has reported a 95% fall in first quarter profit as it counts the cost of the coronavirus to the economy. The post-coronavirus revival in the share price petered out in early June and the slide is likely to resume. That's according to the latest data from Lloyds Banking Group, which also warns prices could … I’ve recently been thinking about the bear case for Lloyds Banking Group in 2020. UK banks are preparing a code of conduct for pursuing businesses that default on taxpayer-backed coronavirus loans, amid industry estimates that up to eight out of 10 borrowers could … Lloyds shares have halved since Horta-Osorio took over in 2011, though they were higher for much of his tenure before slumping along with other bank stocks due to the coronavirus. Lloyds Banking Group is to ask most of its 65,000 staff who are currently working from home due to COVID-19 to continue doing so until at least spring 2021. "Even if it did, they would probably move to savings pot." 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