Lloyds racks up losses of £602m – Impact of the coronavirus has been ‘profound’

THE boss of Lloyds has said the impact of the coronavirus has been "profound" as the bank took a bigger-than-expected hit that pushed it into a loss. Chief executive Antonio Horta-Osorio's bankers revealed that the business had taken a £2.4billion impairment charge in the second quarter for the loans it thinks might go bad.