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Lloyds bank set to hit the headlines again

Lloyds bank is expected to write off around £13 billion on its loan book to commercial property, businesses and mortgage holders across the UK. This particularly disappointing news is set to be announced with results in three weeks time which will also show losses exceeding £6 billion for the first half of 2009 and total write-offs since the merger with HBOS in excess of £20 billion.

When you consider that Lloyds bank has now written off more over the last 12 months than it actually paid for HBOS, the situation becomes clearer. Prior to the acquisition of HBOS, Lloyds bank was one of the most conservatively run operations in the UK and appeared to, at least on the face of it, be faring better than most banks in the UK as the credit crunch took hold. However, as UK taxpayers continue to increase their stake in the operation there are concerns that the worst may be yet to come for one of the U.K.'s most respected and influential banking operations.

Even though the various authorities across UK have attempted to wash their hands of the disastrous HBOS and Lloyds bank merger there are still many questions to be asked about this deal.

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