Lloyds bank cheers rising profit despite new PPI hit

Group cheers ‘resilient’ UK economy as it announces £2bn pre-tax profit in first quarterLloyds Banking Group has cheered a “resilient” UK economy as its first-quarter profit rose, despite taking another £90m hit from the payment protection insurance scandal.
The bank reported a 6% increase in underlying pre-tax profit to £2bn for the three months to 31 March. Bottom-line profit jumped 23% to £1.6bn, although this fell slightly short of analysts&rsq