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Pain postponed

4 December 2002 By Hugo Dixon, Hugo Dixon

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Pain postponed

4 December 2002 By Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon

Margins have shrunk, bad debt provisions are rising and there are new charges for misselling life and pension policies. Those hoping that Lloyds would grasp the nettle and cut its dividend will be disappointed. That may not happen until there is a new CEO.

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