Lloyds profits plunge 36% as it feels impact of UK car finance scandal

The Guardian•Thursday, October 23, 2025 at 8:51:52 AM

Lloyds Banking Group has reported a staggering 36% drop in profits for the third quarter, largely due to the ongoing car finance scandal that has forced the bank to set aside an additional £800 million for expected compensation claims. This significant financial setback highlights the serious repercussions of the scandal on the bank's earnings and raises concerns about its future stability. As the lender braces for a wave of driver claims, the situation underscores the broader implications for the UK banking sector and consumer trust.

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