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Lloyds Banking Group says annual net profit surges 52%

A man passes the entrance to the headquarters of Lloyds Banking Group in the City of London. (Justin Tallis/AFP)
LONDON: Lloyds Banking Group on Wednesday said that its net profit soared 52 percent last year, when the UK lender returned fully to the private sector following a state bailout.
LBG, which was financially rescued by the UK government following the height of the financial crisis a decade ago, said profit after tax jumped to £3.04 billion ($4.26 billion, 3.45 billion euros) in 2017 from £2.0 billion a year earlier.

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