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‘Eye-watering’ bank profits shows ‘folly’ of slashing bank surcharge, slam TUC and campaigners

LLOYDS and HSBC have reported record profits amid sky-high interest rates and mortgage misery.

Lloyds Banking Group said its yearly profit had soared by more than 50 per cent to £7.5 billion after being boosted by higher borrowing costs.

HSBC on Wednesday unveiled record-high yearly profits of £24bn, up nearly 80 per cent in 2023, and nearly doubled the pay packet for its boss.

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