Lloyds posts lower annual profits as PPI and bad loans weigh
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LONDON (Reuters) - Britain's biggest domestic lender Lloyds Banking Group reported a 27% drop in annual profit in 2019, as it paid out billions of pounds to customers mis-sold insurance products and saw bad loans rise. Lloyds reported a pre-tax profit of 4.4 billion pounds, in line with analysts' expectations as nearly 2.5 billion pounds of provisions for compensating customers mis-sold payment protection insurance weighed.Lloyds announced a dividend of 3.37 pence per share, but no buyback as..