Lloyds loses 2,6 billion in 6 months

First semester in deep red for Lloyds. From January to June the British bank, which is 41% owned by the state, recorded net losses of £2,3bn or €2,6bn. Result much worse than last year, when the profit was 596 million. The extraordinary costs incurred by the institute for 3,2 billion, largely compensation for its customers, weighed on the budget. On the sidelines, the General Manager of Lloys, Antonio Horta-Osorio announced 15 cuts in personnel, more than 10% of the total workforce. The policy of redefining the workforce continues: since 2009, in fact, the London bank has cut more than 40000 jobs. Reorganization also in terms of geographical operations: by 2014 the bank will leave more than half of the 30 countries where it is currently present and the planned restructuring will also lead to the sale of 600 branches.