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Lloyds bank lending flat

The very fact that Lloyds bank has bounced back from a significant loss in the first six months of 2009 to a profit of £1.6 billion during the first six months of 2010 has not gone unnoticed in the UK financial press. While the company was pretty keen to confirm that £24 billion in loans has been granted to the UK business arena, further investigation of the figures shows that a similar amount was repaid by borrowers over the same period. So ultimately, despite the fact that new business approaching £24 billion was written during the first six months of 2010, lending is flat at Lloyds bank!

When you consider the massive investment by the UK government, asset sales, cost savings and reduction of around 16,000 in the combined workforce of Lloyds bank and HBOS, who is benefiting from the reorganisation of the enlarged group?

There's no doubt that the UK banking community is the key to economic prosperity for the UK and until the lending figure improves there is little likelihood of a recovery in the short term. Quite why Lloyds bank is unwilling, or indeed unable, to increase liquidity in its operations remains to be seen but there is no doubt this is causing damage to consumers and businesses alike.

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