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Lloyds trims losses

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Lloyds trims losses

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There was mixed news from Lloyds, Britain’s largest retail bank.

Its losses last year at the equivalent of seven billion euros, were smaller than the previous years 7.5 billion euros.

The bailed-out bank is still saddled with major bad loans from its takeover of rival HBOS – 27 billion euros worth were not paid back last year -but Lloyds said that situation is improving.