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Stock Market & Financial Investment News

News Breaks
February 24, 2012
05:38 EDTLYGLloyds expects external environment to remain challenging in 2012
Remains confident that medium-term financial targets, as set out in its June 2011 Strategic Review are achievable over time. Lloyds says as anticipated, it now expects the attainment of income related targets, including for other operating income, to be delayed beyond 2014 as a result of the weaker than expected economic outlook. As a consequence, also expects the attainment of its return on equity target to be delayed beyond 2014. Given expectation of further deposit growth, expect to reach medium-term Group loan-to-deposit ratio target of 130% or below by the end of 2012, two years ahead of plan. For 2012, Lloyds expects income to be lower than 2011 given the economic outlook, further non-core asset reductions, subdued demand in the core loan book, higher wholesale funding costs, and interest rates likely to remain at low levels for longer. Also sees full year banking net interest margin to be below 2% in 2012, falling year-on-year by approximately the same amount in 2012 as in 2011, primarily driven by continuing high wholesale funding costs.
News For LYG From The Last 14 Days
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October 22, 2014
13:39 EDTLYGLloyds plans 9,000 job cuts over three years, Mark Kleiman says
Mark Kleiman of Sky News said in a tweet that Lloyds will cut 9,000 jobs over three years, or 10% of its workforce. An announcement is expected next week. Reference Link
October 21, 2014
08:18 EDTLYGBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
October 16, 2014
06:50 EDTLYGEuropean regulator rejects bonus loophole, NY Times says
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October 14, 2014
06:45 EDTLYGData says UK banks paid less than 40% to cover mis-selling, Reuters says
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October 10, 2014
09:13 EDTLYGEBA says EU stress test results to be published October 26
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