results better be good for shareholders to justify any bonus paid to Eric Daniels.

can we cross the red line today??

it is trying.....be good to get away from 50p.....and then a good week ahead

Lloys Eric Daniels set to waive his bonus.I take that as a negative for the 26th Feb resultsif they read goodhe would have taken the pot.. plus!

Yes - he just takes his 1.035 million salary - must be tough!

i read somewhere it is more in the banks profit margin if exec's dont receive cash bonus.....so shares option for 2012 helps the books......all will become clear friday

LLOYDS BANKING GROUP STATEMENT

Skinny.you only have to read that statement and you can see Eric is all heart.

:-) - roll on Friday!

....Ostensibly, Lloyds' capital position looks relatively strong with a core tier one ratio of 9.1%. However, the Basel committee's proposed changes could potentially reduce this ratio to just 5.3%, possibly necessitating the sale of the group's life insurance business. This would entail further earnings dilution, with 9% of normalised earnings estimates currently accounted for by this business. With a the shares trading at around 7 times normalised earnings, roughly in line with the European banking sector, they appear fully valued given the weak growth outlook and the challenges facing the business. The shares should be avoided.

http://uk-analyst.com/shop/page-article/action-article.show/id-130003327

Broker note out today from UniCredit pre-results:
"We forecast a pro-forma loss of GBP 6.2bn versus the LBG-supplied consensus of GBP 6.7bn. We expect management to paint an upbeat picture of credit quality, but believe that funding is a significant and enduring headwind for the group.
Credit quality likely the most watched item: We forecast GBP 22bn 2009 impairments. Given this huge number, 2010 should be much lower (we estimate GBP 10bn) and a statement on bad debts having peaked would be much less powerful than at Barclays. LBG would also fare badly relative to the sector in the event of a double dip, we believe. But funding still a question mark: LBG recently disclosed that its government funding stood at GBP 165bn. We expect this number (if disclosed) to be lower for year-end given rights issue cash and run-off of some consumer credit. But we believe that funding is LBGs largest challenge, with this set of results unlikely to settle the debate.
Forecasts, target price and recommendation remain unchanged:
We retain our GBp 50 price target, in line with our estimate of 2010E tangible equity per share. That gives a price to tangible book multiple of 1.04x. While not expensive in absolute terms, we believe that better value can be found at Barclays (Buy, 0.92x) and RBS (Hold, 0.78x)"

Plus 10% on a few LLOY. To hold or not to hold - that is the question. Signs for tomorrow look good meaning they'll bomb on the news.
Sitting on my hands for now...

I'm holding for tomorrow (also HSBC reults out mon so all banking sector may get another boost on anticipated good results).

Results

24bl of impairments ffs however impairments fell significantly in H2/09. well thats put all investors minds at restI dont get it?

Business Financial Newswire
"Lloyds Banking Group reported the combined businesses loss for full-year 2009 was 6.3bn, down from 6.713bn the previous year.

Statutory profit before tax of 1.042bn in thre full-year 2009 (2008: 760m) including an 11.173bn acquisition-related negative goodwill credit.

The group said there was a resilient core businesses performance despite year-on-year margin pressure and weak economy, with 35bn of gross new mortgage lending and approximately 100,000 new commercial accounts.

Total income, net of insurance claims, increased by 12% to 23.964bn due to the absence of 3.4bn of mark to market losses on the Group's treasury asset portfolio and gains of 1.5bn on capital transactions, which were partly offset by significant year-on-year margin pressures.

Banking net interest margin improved to 1.83% in the second half of the year, compared to 1.72% in the first half.

Integration was ahead of schedule and the cost synergies target increased to 2bn run-rate by the end of 2011. Total cost synergies of 534m have been realised during the year. Annualised run-rate savings totalled 766m at the year end.

Total impairments were significantly higher at 23.988bn for 2009. Second half impairments were 21% lower than in the first half of 2009.

Lloyds said it expects to see a similar pace of half yearly improvement throughout 2010, with further substantial reductions in 2011 and beyond.

Core tier one capital stood at 8.1% following the successful capital raising in December 2009. Wholesale funding maturing in more than one year increased from 44% to 50%.

The group said the economy is showing signs of stabilisation, with weak upturn expected in 2010. Significant improvement in the performance of continuing businesses is expected in 2010. "

Put this share out of its misery - nationalise the thing and have done with it!!

Merrils on Lloyds:

Lloyds Banking Group (LLDTF)
Our Price Objective on Lloyds Banking Group is 80p. We value LBG on a sum-ofthe-
parts basis, using 2012E earnings and allocating capital to the divisions
based on our assessment of the likely capital needs under BIS. Using the
allocated capital we determine the ROE to generate a valuation based on our
assessment of the CoE and g in each division. We add together all the divisional
capital requirements and compare this with our estimate of future BIS capital
requirements. This allows us to determine whether the banks have a capital
surplus or deficit. We add this to our valuation, or subtract it, at 1x book. We value
the Life assurance business at 0.9x EV. We discount the sum-of-the-parts
valuation back to the end of 2010 using the average allocated CoE to arrive at our
price objective of 80p. Main risks to the rating are a deterioration in the funding
markets or a double dip in the UK economy.

Erics got it coveredcount his disclaimers Every claim and comment on Lloyds future are followed by the words expect or anticipatethink of a number? pick a cardizzy wizzy or similardisguised claims for hopefully.might happenmight not happen?
My investments are made with a little stronger conviction than hopeand are we really out of a recession?I dont think so!how would a Hung Parliament which will happen affect Lloyds and the likes?

FORWARD LOOKING STATEMENTS
This announcement contains forward looking statements with respect to the business, strategy and plans of the LloydsBankingGroup, its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about the Group's or the Group management's beliefs and expectations, are forward looking statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. The Group's actual future results may differ materially from the results expressed or implied in these forward looking statements as a result of a variety of factors, including, without limitation, UK domestic and global economic and business conditions, the ability to derive cost savings and other benefits, as well as the ability to mitigate exposures from the acquisition and integration of HBOS, risks concerning borrower credit quality, market related trends and developments, changing demographic trends, changes in customer preferences, changes to regulation, the policies and actions of Governmental and regulatory authorities in the UK or jurisdictions outside the UK, including other European countries and the US, exposure to regulatory scrutiny, legal proceedings or complaints, competition and other factors. Please refer to the rights issue prospectus issued by Lloyds Banking Groupplc on 3November 2009 for a discussion of such factors together with examples of forward looking statements. The forward looking statements contained in this announcement are made as at the date of this announcement, and the Group undertakes no obligation to update any of its forward looking statements.
Key highlights

2009 was a year of significant achievement in shaping the Group. We have established positive trends in margin, cost and impairments and are well positioned. We are building strong earnings momentum and expect our performance to improve significantly in 2010 and beyond.'
J Eric Daniels
Group Chief Executive

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Well thats absolutely clear then!cost and impairments and are well positionedwould that be compared to the 24bl Eric?