UK lender Lloyds Banking Group has posted an increased impairment charge in the second quarter, but pushed up earnings.

The bank said it took a £245m ($323.72m) hit to 30 June, up from £179m a year ago.

It blamed this rise on a reduction in the level of provision releases and lower write-backs from debt sales.

But the lender said: “The credit quality of the group's lending book is strong and has improved significantly over the last five years with the group's prudent through-the-cycle approach to credit risk appetite.”

Impaired