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Journalism of Courage
British entity Lloyds Banking Group will write off as much as 13 billion pounds on its loan to commercial property,businesses and mortgage holders,a media report has said. Lloyds Banking Group is poised to write off as much as 13 billion pounds on its loans to commercial property,businesses and mortgage holders as the crisis engulfing the taxpayer-backed bank deepens, The Sunday Times reported on Sunday. The report said that first-half results due to be posted in three weeks would show that its losses are accelerating,in spite of recent suggestions that the worst of the recession is over.
