Lloyds Renews Pledge to Lend $24 Billion to British Businesses

(Bloomberg) -- Lloyds Banking Group Plc vowed to lend as much as 18 billion pounds ($24 billion) to British businesses this year.

The bank on Monday matched last year’s commitment for loans, which it will make available for businesses of all sizes. Lloyds has previously said it will increase net lending to small- and mid-sized companies by 6 billion pounds over the three years to the end of 2020.

As uncertainty over Brexit clouds the British economy, Lloyds reported a decline in quarterly commercial banking income in October but said overall credit quality remained strong.

To contact the reporter on this story: Marion Dakers in London at mdakers@bloomberg.net

To contact the editors responsible for this story: Ambereen Choudhury at achoudhury@bloomberg.net, Rakteem Katakey, Sara Marley

©2020 Bloomberg L.P.