Economy;Insurance

London: European banks return to profitability after a contraction rate of bad loans, banks and the results were helped by lower provisions for bad loans and high risk activities, which helped to offset the revenue decline by banks investment.

Bank Lloyd's, the largest British retail bank has returned to profitability in the first half of 2010, supported by a decline in bad debts, after having suffered a loss in the same period last year.

He said, "Lloyd's" The result before taxes amounted to 1.603 billion pounds (2.48 billion dollars) in the six months ended June, compared to a loss of 3.96 billion pounds in the same period last year.

And the retreat of the impairment provisions of 6.55 billion pounds from 13.44 billion a year ago and in light of economic stability, while helping to reduce costs to increase profits for the group.

The results exceeded the bank "Société Générale" French analyst expectations, as increased its net profit in the second quarter to four times, but the bank remained cautious, despite these results and warned that the recovery in economic growth remains fragile and the prospects for growth in Europe is still moderate.

Societe Generale is fighting to regain investor confidence after the financial crisis under new leadership and a strategic plan known as the ambitious 2015, saying he was confident of achieving its long-term objectives, which includes a profit of six billion euros, or about $ 7.8 billion in 2012.

Net income in the second quarter to € 1080000000 € 309,000,000 compared to the corresponding period last year when the affected lots and large reductions in asset values on the net profits.