New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 1, 2012
06:56 EDTLYGLloyds Banking lowers 2012 impairment charge expectations to GBP 6B
Lloyds Banking said it remains confident in achieving its existing guidance, including for the Group banking net interest margin to be around 1.93% for 2012. In addition it now expects the cost base to be close to GBP 10B in 2012, two years ahead of the original plan, a reduction of around GBP 1B since 2010. Lloyds further lowered its guidance for the Groupís full year 2012 impairment charge to approximately GBP 6B, around GBP 1.2B lower than expectations at the beginning of the year. The bank added, "We continue to be successful in achieving reductions that are capital generative. We also expect to reach our long-term loan to deposit ratio target of 100 per cent for the core business in the first quarter of 2013, at the same time as reaching a 120 per cent loan to deposit ratio for the Group. We remain confident of meeting future regulatory capital requirements, and continue to explore with our regulators the benefits of becoming a ring-fenced bank ahead of the regulatory deadline."
News For LYG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 18, 2014
06:38 EDTLYGU.K. says to reduce stake in Lloyds Banking, NY Times reports
The British government said it would cut its stake in U.K. bank Lloyds Banking (LYG) by gradually selling shares over the next six months, according to The New York Times. The government could begin selling shares soon, although the process may not kick off until 2015, the newspaper stated. Reference Link
December 17, 2014
13:24 EDTLYGMorgan Stanley gets GBP1 fee to sell stake in Lloyds, WSJ says
Morgan Stanley (MS) has landed a prestigious deal and will collect a fee of GBP1 or $1.57 to sell down a potentially large stake in Lloyds Banking Group (LYG), says the Wall Street Journal. Morgan Stanley has until June 30, 2015 to sell what may amount to GBP3B worth of stock, added the Wall Street Journal. Reference Link
09:50 EDTLYGUK Financial Investments announces intent to sell shares in Lloyds Banking
Subscribe for More Information
December 16, 2014
06:56 EDTLYGRoyal Bank of Scotland, Lloyds fail stress test, NY Times says
The Royal Bank of Scotland (RBS) and Lloyds (LYG) failed a stress test performed by the Bank of England, according to The New York Times. The central bank found that Royal Bank and Lloyds would not have had enough capital to withstand a severe financial shock at the end of last year, the newspaper stated. However, Lloyds has raised enough capital this year to survive the stress test scenario, the newspaper quoted the Bank of England as saying. Reference Link
06:35 EDTLYGBank of England says seven of eight banks pass stress test
The Bank of England said that all but one of the eight banks passed its stress test. The one bank, Co-operative, needs to submit a revised plan to strengthen its balance sheet. Royal Bank of Scotland (RBS), Lloyds (LYG) and Co-operative were found to be the most susceptible to a housing crash and spike in unemployment. RBS and Lloyds passed the stress test, however. Both banks need improved capital positions, but have already put in place plans to do so, the central bank's Prudential Regulation Authority stated. Reference Link
December 11, 2014
13:40 EDTLYGEuro zone banks accepted $160B in low interest loans, NY Times says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use