Lloyds banker predicts better 2010 following £6.3m losses

Eric Daniels, the man in the top banking job at Lloyds, has predicted that the bank will have a more positive 2010 following losses of £6.3 billion in 2009.

The chief executive of the financial institution said that Lloyds is already being successful in tackling its "near-term challenges" - but admitted that the company's recovery is likely to be a slow process.

He added: "The group is . well positioned to deliver value for our customers and shareholders.

"As a result, the financial performance of the group's continuing businesses is expected to improve significantly in 2010 and beyond."

Mr Daniels added that Lloyds has identified several areas offering growth opportunities which it will look to build on this year.

Earlier this week, Royal Bank of Scotland (RBS) chief executive Stephen Hester declared that he believes the "worst is behind" for his bank following the firm's results.

The man in the senior banking job was speaking after RBS revealed losses of £3.6 billion for 2009 - an improvement on the 2008 deficit of £24.3 billion.

Updated: 26 February 2010.
Categories: banking-and-financial-services, market-and-industry-news.