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Lloyds Banking Group PLC Add to portfolio

LON100:LLOY, Jun 05, 04:29 UTC

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Tuesday, June 02


News

Britain's Lloyds Bank extends pause on redundancies until October

LLOY

Britain's Lloyds Bank extends pause on redundancies until October. LONDON (Reuters) - Lloyds Banking Group <LLOY.L> has said it will keep staff on notice of redundancy employed until at least October, as the UK's coronavirus lockdown begins to ease. Britain's largest domestic lender had originally said a group-wide pause on restructuring layoffs would be reviewed on a monthly basis from end-May but it has since decided to delay job cuts until the fourth quarter to reassure its workforce. "We have made a number of commitments to our colleagues to address their concerns during the current crisis, including continuing to pay them in full regardless of their working circumstances," a spokeswoman for the bank told Reuters.

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Monday, June 01


News

Have UK bank stocks like Lloyds and RBS become uninvestable?

LLOY RBS

The world changed for UK banks after the great financial crisis (GFC) of 2008–09. The taxpayer bailouts of Lloyds (LSE: LLOY) and Royal Bank of Scotland (LSE: RBS), and regulatory changes to guard against it happening again, meant investors had to reassess the prospects and future returns of UK bank stocks. Here, I’ll discuss these views, and what they might mean for investors in Lloyds and RBS today. Lloyds and RBS last year had financial leverage of 17.5 times and 16.6 times. For the UK’s three biggest utilities, National Grid, SSE, and United Utilities, leverage was 3.3, 4.3, and 4.2 times.

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News

Lloyds Bank and Halifax app and internet banking down leaving customers locked out

LLOY

Many are reporting that they have been logged out of their accounts when they were using the app and that transactions couldn't be completed. Problems appear to have started at around 11:30 this morning with around 2,300 Lloyds Bank customers and 1,400 Halifax customers reporting problems, according to Downdetector. Around 80 per cent of the Halifax customers who are complaining say they're having problems with online banking, while 18 per cent are struggling with mobile banking and online 1 per cent say there are issues with the website. Another said: "First day of the month, lots to sort. Internet banking not working." Both Lloyds Bank and Halifax have now tweeted: "We know some of you are having issues logging into internet banking and mobile app.

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Thursday, May 28


News

Bank of Scotland funding helps Stella’s Voice support locals impacted by COVID-19 - Scottish Housing News

LLOY

Stella’s Voice, a Peterhead-based charity that works to safeguard young people across Eastern Europe from traffickers and homelessness, has received funding from Bank of Scotland to help it support locals amid impacted by the coronavirus pandemic. Stella’s Voice relies on sales from its five charity shops to raise the vital funds needed to help these young people. The remaining five staff decided to help the local community including the Aberdeenshire North Food Bank by delivering food from supermarkets to the food banks, and ferrying donated furniture to local councils dealing with emergency housing. In order to pay the rent and utility bills for each shop until they can safely reopen, the charity approached Bank of Scotland for support and secured a five-figure funding package. Mark Morgan, director at Stella’s Voice, said: “As a charity, we do not have huge cash reserves as the majority of money raised goes straight to helping young people at risk in Eastern Europe.

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Tuesday, May 05


News

Lloyds lends £1bn to small businesses in 24 hours

LLOY

The businesses have been loaned an average of more than £30,000 each. “We’re proud to play our part in supporting the lifeblood of the British economy at this crucial time,” said Gareth Oakley, managing director of business banking at Lloyds. The Royal Bank of Scotland said that it had received 58,000 loan applications on Monday and Tuesday, with an average loan value of £37,000. As of 11am on Tuesday, almost 59,500 businesses had asked HSBC for loans. Like many other banks, Lloyds, which also owns Bank of Scotland, is only taking applications from its existing customers.

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Friday, May 01


News

Lloyds shares vs Barclays: which should you buy?

LLOY BARC

Shares in Lloyds Banking Group (LSE: LLOY) and Barclays (LSE: BARC) have been battered by this year’s stock market crash. But the latest figures from each bank suggest to me that they will be able to survive the Covid-19 pandemic without too many problems. Although dividends at both banks have been suspended by order of the regulator, this won’t last forever. Barclays and Lloyds’ UK retail banking divisions are direct competitors, selling mortgages, loans and credit cards. But there are some differences. You might expect these contrasts to have caused the bank’s share prices to perform differently over the last five years. But they haven’t. Since May 2015, both Barclays and Lloyds shares have fallen by 65%. Bank shares certainly haven’t been my best investment in recent years. But I think that we will now start to see real differences emerging between the banks.

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Thursday, April 30


News

Bank of Scotland owner Lloyds sees profits slide 95% as Covid-19 takes toll

LLOY

Bank of Scotland owner Lloyds sees profits slide 95% as Covid-19 takes toll. Bank of Scotland owner Lloyds Banking Group saw its pre-tax profits almost wiped out after taking a major hit from worsening economic conditions in the first three months of the year. Horta-Osorio added: “I would like to pay tribute to the exemplary dedication being shown by all our colleagues across the group providing vital banking services to those in need, but also in going above and beyond in countless and often unseen ways to support the most vulnerable.”. John Moore, senior investment manager at Brewin Dolphin, said: “Of the major banks, Lloyds is most vulnerable to a significant UK downturn, following moves to simplify its business over the past decade.

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News

UK stocks slump weighed down by Shell dividend cut and Lloyds provisions

LLOY RDSA +1 more LLOY RDSA RDSB

U.K. stocks slump, weighed down by Shell dividend cut and Lloyds provisions. The top British stock market index fell on Thursday after Royal Dutch Shell’s historic dividend cut and Lloyds Banking Group announced big loan-loss provisions. “Hopes of further gains for the FTSE 100 after yesterday’s solid push through 6000 have been dashed for now thanks to Shell’s decision to cut its dividend, along with disappointing performances for Lloyds and mining stocks that, taken together, have pushed the index into the red in early trading,” said Chris Beauchamp, chief market analyst at IG. Royal Dutch Shell UK:RDSA-6.25% fell 6% after announcing it was cutting its first-quarter dividend by two-thirds, in what was reported to be the first time the Anglo-Dutch oil giant had reduced its dividend in 80 years.

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News

Breakingviews - Corona Capital: Lloyds, SoftBank, Reckitt

LLOY RB

LONDON/MUMBAI (Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. Lloyds Banking Group’s first-quarter earnings report, unveiled on Thursday by Chief Executive Antonio Horta-Osorio, was a tale of two numbers: a 1.4 billion pound impairment charge for bad debt, and a bumper 14.2% common equity Tier 1 capital ratio. It’s also a risk, however: supervisors like the Bank of England have made it clear that lenders should be burning through their equity capital to help virus-hit firms and households. Banks who exit the crisis with their buffers overflowing, ready to pay shareholders a chunky dividend, could have a rough ride in the court of public opinion.

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News

Lloyds Books 1.4 Billion-Pound Charge and Scraps Targets

LLOY

Lloyds Books 1.4 Billion-Pound Charge and Scraps Targets. (Bloomberg) -- Lloyds Banking Group Plc has begun to count the cost of the coronavirus pandemic to the British economy -- and warned that the turmoil had made its old targets obsolete. Britain’s biggest mortgage lender booked a provision of 1.4 billion pounds ($1.75 billion) for possible soured loans as efforts to halt the spread of the virus also crushed economic growth. The provision comes a day after rival Barclays Plc announced an unexpectedly large 2.1 billion-pound charge to cover soured loans, as banks around the world prepare for more struggling borrowers during lockdown.

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