Bank takes £745m hit on branch sale but shares rise after announcement of no further provision for PPI compensation
Lloyds Banking Group has taken a £745m hit from its TSB branch network, denting profits at the bailed-out bank in the first three months of the year.
But shares in the bank jumped more than 7% to above 83p as analysts considered whether to upgrade their profit and dividend forecasts.
Related: RBS warns of tough times ahead after setting aside £856m for charges
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