TSB sell-off dents Lloyds profits

Bank takes £745m hit on branch sale but shares rise after announcement of no further provision for PPI compensationLloyds 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.Lloyds was forced to sell off the 631-branch network under terms agreed with the EU before its 2008 taxpayer bailout. The government originally took a 43% stake in Lloyds but this has now fallen to 20.95% through a series of shar