Lloyds’ 2019 profit sinks after £2.45bn PPI charge February 20, 2020 Lloyds Banking Group revealed its 2019 profit sank 26 per cent today as it said it must pay out £2.45bn to settle payment protection insurance (PPI) claims. The figures Lloyds recorded profit before tax of £4.39bn, down 26 per cent on 2018, after the £2.45bn PPI charge. Underlying profit slipped seven per cent to £7.5bn [...]
Mitie to continue managing Lloyds Bank facilities until 2024 September 12, 2019 Outsourcer Mitie has been tasked with managing Lloyds Banking Group branches across the country for the next five years, in a contract estimated to be worth about £850m. The so-called integrated facilities management contract means Mitie workers will provide engineering, security, cleaning, catering and data centre services across Lloyds’ network of bank branches, and in [...]
Lloyds suspends share buyback as PPI costs rise to £1.8bn September 9, 2019 Lloyds Banking Group has warned its costs relating to mis-sold payment protection insurance (PPI) could hit an additional £1.8bn after a rush of claims before the 29 August deadline. The bank had previously forecast costs of just under £1.1bn, based on a claims rate of 190,000 per week. Read more: Tesco sells mortgage arm to [...]
No-deal Brexit could hit UK banks’ earnings by 25 per cent, says Citigroup August 30, 2019 US bank Citigroup has estimated that the UK leaving the European Union without a deal could cut UK banks’ earnings by as much as 25 per cent. A no-deal Brexit is likely to reduce revenue of high street lenders as economic growth slows and interest rates remain low, a note to clients from Citi analysts [...]
ii view: Lloyds Bank friendless on results day August 1, 2019 | City Talk by Keith Bowman from interactive investor. Lloyds continues to bear down on costs to offset tough market conditions, but shares have slumped. Half-year results to 30 June 2019 Net income down 2% to £8.82 billion Pre-tax profit down 7% to £2.89 billion Earnings per share down 7% to 2.7p Interim dividend up 5% to 1.12p per share Chief [...]
Who joins Lloyds Bank on this list of cheap UK shares to buy? July 22, 2019 | City Talk By Graeme Evans from interactive investor. Performance of UK-exposed stocks is at an eight-year low and this is the cheapest region around. Cheap-looking UK-focused stocks were in the spotlight as asset managers increasingly turn their attention to Europe in the face of darkening skies for global equities. The attraction of European equities was highlighted by UBS in an [...]
UK banks: What to make of Lloyds, RBS and Barclays? May 29, 2019 | City Talk By Graeme Evans from interactive investor. Having underperformed since April's stock market peak, here's what to expect from the domestic lenders. With UK banks making heavy weather of Q1 results and the Brexit shackles still in place, there's a clear lack of momentum behind shares of Lloyds Banking Group (LSE:LLOY), Barclays (LSE:BARC) and The Royal [...]
Lloyds Bank boss summoned by MPs to explain pension pay perks despite easing shareholders’ concerns May 23, 2019 Lloyds Bank boss Antonio Horta-Osorio has been summoned by MPs to explain the pension contributions paid to the bank’s executives. The bank avoided a shareholder revolt over pension pay last week despite MPs accusing bosses of “boundless greed” on the eve of its annual meeting. Read more: Lloyds Bank avoids pension pay revolt but faces [...]
Lloyds Bank has more great news for income investors May 20, 2019 | City Talk It already pays a big dividend, but there's even more to like about Lloyds after last week's announcement. Around this time next year, Lloyds Banking Group's (LSE:LLOY) vast army of loyal shareholders will receive their first quarterly dividend. The news, announced last Thursday, will be well-received by the bank's investors who will value a more [...]
Lloyds Bank unveils quarterly dividends payments amid pension pay row May 16, 2019 Lloyds Bank has announced plans to pay dividends quarterly from next year ahead of a potential shareholder revolt at today’s AGM. The bank said the move, beginning in the first quarter of 2020, would allow its 2.4 million shareholders to be paid more regularly and efficiently. Read more: Lloyds Banking Group: Q1 results analysis The [...]