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Lloyds looks to 2010 profit

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Lloyds looks to 2010 profit

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Lloyds Banking Group is predicting that it will return to profit this year thanks to fewer bad debts. In 2009 it lost seven billion euros.

The bank, which had to be rescued with British taxpayers’ money and is 41 percent owned by the government, said the improved outlook reflected “good” overall trading in the first 10 weeks of the year.

Its shares rose on word that loan repayments had improved and costs were down compared with the same period last year.