Since the Covid-19 crisis kicked off, Lloyds share price has found support at 30p levels, with the majority of the price action falling within 28p to 32p range. Lloyds unveiled a disappointing set of first quarter (Q1) results in April, with profits down 95% after the lender was forced to wear a £1.4 billion charge to cover a surge in bad loans as a result of the pandemic. Lloyds is trading at 32p per share as of 12:30 (GMT). Lloyds Group CEO Antonio Horta-Osório told onlookers at the lender’s annual general meeting (AGM) last month that it is capable of supporting business owners effected by the pandemic, but admitted that it would a have a significant impact on the overall performance of the bank.Īs it stands, Lloyds has provided around £5 billion to customers via the UK government’s coronavirus relief packages, as well as offering repayment holidays to millions of people effected by the viral outbreak. Lloyds shares are trading 4% higher on Tuesday and could see gains extended after the bank said that it is capable of absorbing an uptick in loan defaults caused by the Covid-19 crisis.

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Will lloyds bank go bust