According to recent reports Lloyds Banking Group which has made excellent improvement in the sector of retail banking, is not expecting a high margin of profit this year. The recent slowdown in the UK economy will be a constraint to the maximum financial growth.

The Chief Executive of the Lloyds Banking Group, Eric Daniels, told the media that this financial year will be lenient comparatively. Though the growth is expected to be very slow but still it will be on the positive side.

He also said that the bank made excellent profit in the last year as there were a great flow in the banking and retails sector. But this year it is impossible to see the same results as there are changes in the retail banking sector.

Economical slowdown has led to higher cost of funding. That is the reason that banks shares have gone down to 4% which will be the major barrier for the bank to reach to the maximum margin. Earlier the bank increase it margin from 1.77% to2.10%.

The present Chief Executive will resign from his job at the end of this month and new CEO will take charge from 1st of March and he will present a strategic review if the bank by end of June.