StockMarketWire.com - Leeds Building Society reported a fall in first-half profit as loan loss provisions increased.

In the six months ended 30 June, pre-tax profit fell to £32.6m from £49.4m on-year as total income slipped 7.6% to £93.3m.

The company recorded a £9.6m increase in impairment provision to protect against losses on loans to customers.

'The Society took a cautious approach to steer a steady course through the pandemic and has made appropriate provisions to reflect tougher economic conditions ahead,' the company said.



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