Lloyds leader cheers progress

Tim Wallace
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LLOYDS is on track to hit capital targets, has made solid progress on costs and has almost finished the lengthy process of reforming its funding profile, a confident Antonio Horta-Osorio said yesterday.

The chief exec also pointed to its growing number of small business loans as evidence Lloyds is helping the economy in the downturn.

He said the bank supported 64,000 startups in the first half of 2012, taking the total to 292,000 since 2009 – just 8,000 short of his 300,000 target set for the end of this year.