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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.
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August 28, 2014
06:35 EDTLYGEuro zone credit crunch showing signs of improving, Reuters says
Loans to the private sector by euro zone banks dropped 1.6% in July versus the same period a year earlier, compared with a year-over-year decline of 1.8% in June, according to Reuters. Meanwhile, the bloc's M3 money supply increased at a 1.8% annual rate in July, versus 1.6% in June, the news service added. The upturn in the data comes after the European Central Bank started charging banks in June to keep their deposits overnight, Reuters added. Publicly traded euro zone 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

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