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Lloyds Banking Group back in profit

Lloyds Banking Group has announced a profit of £2.1bn ($3.2bn) for the six months to the end of June, marking a return to healthier financial territory for the bank.

The figures compare with a loss of £456m for the same period last year.

The government has a 39% stake in the bank, roughly equivalent to taxpayers buying shares in the bank for 73p each in 2008. The latest results have prompted speculation that the government might look to sell off its stake.

Simon Gompertz reports.