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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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February 27, 2015
06:16 EDTLYGLloyds Banking to recommend a dividend resumption of 0.75 pence per share
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06:14 EDTLYGLloyds Banking sees FY15 net interest margin to be around 2.55 per cent
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06:12 EDTLYGLloyds Banking reports FY14 underlying profit GBP 7.8B vs. GBP 6.2B last year
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February 25, 2015
09:44 EDTLYGLloyds seeks adjustment of CEO bonus, Sky News says
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February 24, 2015
13:07 EDTLYGEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Unionís new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
February 23, 2015
06:37 EDTLYGU.K. lowered Lloyds Banking stake, NY Times says
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February 19, 2015
14:21 EDTLYGS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks 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
06:04 EDTLYGFCA to investigate investment and corporate banking
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