Lloyds boss Eric Daniels 'very pleased' with results

Lloyds Banking Group has announced a pre-tax profit of £1.6bn for the six months of 2010, compared with a loss of £4bn in the same period a year earlier.

Speaking to the BBC's Robert Peston, the chief executive Eric Daniels said he was "very, very pleased" with the results.

Commenting on whether Lloyds Banking Group was providing enough loans and supporting the economy, Mr Daniels said the group was ahead of its lending commitments during the period of slower growth.