Britain's Lloyds Banking Group on Thursday announced that first-quarter net profit tumbled 60 percent, after taking a £1.43-billion ($1.78-billion, 1.64-billion-euro) hit from the COVID-19 pandemic and restructuring. "The coronavirus pandemic presents an unprecedented social and economic challenge which is having a significant impact on people and businesses in the UK and around the world," said Chief Executive Antonio Horta-Osorio, as LBG said that earnings after taxation fell to £480 million in the reporting period from £1.2 billion a year earlier. rfj/spm