Lloyds bank losses narrow to £570m for 2012

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Lloyds Banking Group has narrowed its losses for 2012 to £570m, from £3.5bn the previous year.

The group, which is 40%-owned by the government, said its losses were primarily because of making provisions for the mis-selling of payment protection insurance (PPI).

Former investment banker Heather McGregor told the BBC's Steph McGovern that Lloyds was "heading in the right direction".

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