Lloyds predicts drop in defaults on loans and mortgages as UK economy improves

July 25, 2024 Leave a Comment

Bank sets aside just £44m for bad debts and defaults in second quarter amid upbeat outlook

Fewer borrowers are likely to default on their loans and mortgages, Lloyds has said, as the banking group upped its forecasts for the UK economy.

In fresh estimates released as part of its second-quarter results, Lloyds said it expected the economy to grow 0.8% in 2024 – double the rate of growth it expected back in April, when it predicted a 0.4% rise.

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