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Stock Market & Financial Investment News

News Breaks
February 3, 2014
05:56 EDTLYGLloyds Banking sees underlying profit of GBP6.2B for 2013
Lloyds expects to report substantial progress on its strategic plan, a Group underlying profit of GBP6.2B for 2013, ahead of analyst consensus expectations and more than double that in 2012, a Group 2013 full year net interest margin of 2.12%, and core loan growth of 3%. The Group also expects to report a small statutory profit before tax for the 2013 financial year, and an estimated pro-forma fully loaded common equity tier 1 ratio of 10.3% at December 31, 2013, in line with guidance. These results and capital position reflect a further provision taken in the fourth quarter of GBP1.8B for legacy PPI business, and a further provision of GBP130M relating to the sale of interest rate hedging products to certain small and medium-sized businesses. The PPI provision increase is principally based on the Groupís revised expectations for complaint volumes, uphold rates, and related administrative costs. The Group can also confirm that, following the statements made by the Chancellor in his Mansion House speech and in the Autumn Statement, preparatory work including the preparation of certain documents required for a possible future sale of shares in Lloyds Banking Group to the public, has commenced. In the second half of 2013, the Group commenced discussions with the Prudential Regulatory Authority on the timetable and conditions for resuming dividend payments. Given the progress the Group has made in substantially str engthening its capital position and improving its financial performance, the PRA has now confirmed that it will consider the Groupís applications to make dividend payments in line with its normal procedures for other banks.
News For LYG From The Last 14 Days
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March 26, 2015
07:18 EDTLYGU.K. lowers stake in Lloyds Banking by 1%, WSJ reports
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March 20, 2015
06:21 EDTLYGLloyds Banking confirms sale of shares to Sabadel
Lloyds Banking notes the announcement by TSB Banking in relation to the agreed terms of the recommended cash offer for TSB Banking by Banco de Sabadell, pursuant to which Sabadell will acquire the entire issued and to be issued share capital of TSB. The Group has agreed to sell a 9.99% interest in TSB to Sabadell, and the Group has entered into an irrevocable undertaking to accept the Offer in respect of its entire remaining 40.01% shareholding in TSB. Under the terms of the Offer, TSB Banking Group plc shareholders will receive 340 pence per share in cash for each TSB share, which values the entire issued share capital of TSB at approximately GBP 1.7B. Reference Link
05:57 EDTLYGLloyds to sell 50% stake in TSB to Sabadell, Financial Times reports
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March 16, 2015
14:08 EDTLYGEU regulator says time for fine-tuning, Reuters says
The Basel Committee on Banking Supervision believes the necessary bank regulatory framework is in place though some additional work must be done to finalize leverage ratio and capital floor rules, Reuters reported yesterday, citing statements by secretary-general William Coen at a financial conference in Doha. Coen added, "We're now at the state where we can take a step back and look to see how [the regulations] fit together," cautioning that further analysis must be data-driven but admitting that both banks and regulatory bodies were feeling "regulation fatigue." Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link

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