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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/bailedout-lloyds-to-reveal-profit.jpg"><img class="alignnone size-full" title="The outgoing chief executive of taxpayer-funded Lloyds Banking Group, Eric Daniels, is to reveal the company's annual results" src="http://londonglossy.com/wp-content/uploads/2011/02/min-bailedout-lloyds-to-reveal-profit.jpg" alt="The outgoing chief executive of taxpayer-funded Lloyds Banking Group, Eric Daniels, is to reveal the company's annual results"/></a></p>
<p>Part-nationalised Lloyds Banking Group is expected to reveal its first annual profit since being bailed out at the height of the financial crisis.</p>
<p>The group, which is 41% owned by the taxpayer, is predicted to report pre-tax profits of £2 billion &#8211; a marked improvement on the £6.3 billion loss in 2009.</p>
<p>Lloyds has already revealed its bonus plans, with outgoing chief executive Eric Daniels being awarded £1.45 million for 2010, so the City is likely to focus on trading.</p>
<p>The bank had a mixed year after it returned to profit at the half-year stage with a £1.6 billion surplus, but later warned over the impact the Irish debt crisis would have on its performance.</p>
<p>It increased expectations for bad debt losses in December to £4.3 billion for 2010, from a previous estimate of £1.6 billion reported in June. This raised concerns, given that its return to health has been driven by lower bad debts.</p>
<p>A further blow came last week when lender Halifax, owned by Lloyds, revealed it would have to pay £500 million in compensation after it admitted confusing 600,000 customers about whether a cap on its standard variable rate mortgage applied to them. However, this will impact on the group&#8217;s 2011 results.</p>
<p>The figures will be the last presented by Mr Daniels before he hands over to former Santander UK chief executive Antonio Horta-Osario in March.</p>
<p>Mr Horta-Osario faces a number of trading challenges going forward, according to analysts at Credit Suisse, with margins hard to come by across the entire industry.</p>
<p>Lloyds is also at the mercy of the Independent Banking Commission, which could recommend splitting Lloyds in order to improve competition.</p>
<p>The bank&#8217;s full-year results follow figures from Barclays and Royal Bank of Scotland so far in this year&#8217;s earnings season. On Thursday, fellow taxpayer-backed player RBS said its recovery was ahead of schedule as it slashed annual losses in 2010. RBS, which is 83% owned by the taxpayer, posted losses of £1.1 billion in 2010 against a £3.6 billion loss in 2009.</p>
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