Lloyds Banking Posts Q1 Profit

Lloyds Banking Group PLC

swung to a profit in the first quarter. Lloyds Banking posted its quarterly profit at 2 million pounds, versus a year-ago loss of £2.44 billion. Its interest income fell to £6.08 billion from £6.65 billion. However, income from trading rose to £6.08 billion from £1.12 billion. Net revenue from interest on loans fell 34%, while net fee revenue dropped 13%. LYG shares closed at $1.96 yesterday.