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

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

Deutsche Bank on LLoyds

Smaller than expected operating loss

LBG reported stated PBT of 1042m compared with our estimate of 765m
and consensus of 900m. Our preliminary estimate of underlying loss before
tax is 7.8bn, 5% higher than our forecast with debt management gains
of 1.5bn higher than our 945m and consensus of 745m, intangible amortisation
lower, and policyholder volatility higher (see below).
Better in the enduring parts of the business
However, the signposts to a stronger earning future are clear, and backed
by clear upgraded guidance from LBG management: (1) Net interest margin
was 1.77% for the year (1H 1.72%, 2H 1.83%) and company expects 2.00%
in 2010 including the cost of refinancing required SLS and CGS, rising thereafter;
the balance of wholesale funding > 1 year duration 50% from 47%
June 09, 44 Dec 08, in line with RBS; We're at 1.82% margin for 2010 at
present; (2) Impairments of 24bn bang in line; 2010 guidance is to take the
2H09 figure and shrink 21% HoH for 1H10 and 21% HoH for 2H10, gets to
a 15bn 2010 charge, we're at 15.7bn, 2010 fair value unwind assumption
increased to 2.5bn from 1bn; (iii) Synergies upgraded, as we had hoped,
to 2bn by end 2011 from 1.5bn before, including the cost of selling the
retail and commercial bank under EU competition requirements.
Weak performance is centered in non-core Ireland
Though loan losses at a group level reported in line with our expectations,
International was substantially weaker than our forecasts, driven by Ireland
and Australia, both of which we consider non-core to the group. Much
stronger performance in UK Retail and strong margin and cost guidance
should underpin the stock, despite the recent strong run. Buy, TP70p.
Source: Deutsche Bank
Jason Napier, CFA
Research Analyst

KBW on LLoyds

Lloyds Banking Group
(LLOY.LN, 55p, Market Perform, Target: 65p)
FY09 results - Initial reaction
Lloyds has reported a statutory pre-tax profit of 1.0bn and pro-forma loss of
6.3bn (after fair value unwind of 6.1bn). Income was 24.6bn (KBWe 23.6bn)
benefiting from 2H09 gain of c0.8bn, which was not in our estimates.
Impairment charges were 24.0bn (KBWe 23.0bn), or 5.4bn in 4Q and NPLs
are up c10bn HoH. Guidance is for a similar sequential c20% HoH reduction
into 2010. The group margin came in at 177bps (KBWe 172bps), implying a
sharp recovery in 4Q09, which looks to have been driven entirely by Retail. The
2009 numbers look fairly disappointing versus KBWe. More importantly for the
share price is the guidance. Impairment charges are guided at c14bn (our
interpretation), broadly in line with consensus and around 2bn ahead of KBWe.
The margin is guided to c200bps in 2010 and rising thereafter, leading to
high-single digit income growth within two years. Overall, Lloyds still has to
prove it has a handle on credit quality, but the projected margin improvement
should be enough to provide comfort

Goldmans upgrade today with target of 83p

smarty....keep your finger on the pulse.....83p would be brill target for the end of the year.....then one more year to go and we get a divi again......looking comfortable for that time frame......cheers

Update on Current Trading

RNS Number : 8463I
Lloyds Banking Group PLC
19 March 2010

19 March 2010
UPDATE ON CURRENT TRADING
On Wednesday 24 March 2010 Eric Daniels, Group Chief Executive, will present to
investors at the Morgan Stanley European Financials Conference. The
presentation will focus on the opportunities for the Group to build sustainable
earnings momentum and will update the guidance provided to investors in the
Group's 2009 preliminary results announcement on 26 February 2010, and will
provide the following short update on current trading.

In the first 10 weeks of 2010, the Group's trading performance has been strong
and we are pleased with the Group's performance against each area of recent
guidance. The banking net interest margin is trending in line with recent
guidance and this has supported a good level of income growth, on a combined
businesses basis and excluding last year's gains from liability management
transactions.

Costs have remained well controlled and are lower than the equivalent period in
2009. Impairment provisions are currently trending at lower levels than
anticipated and as a result the Group now expects to deliver a better impairment
performance than previously guided, in both the retail and corporate businesses,
in 2010. Overall, based on the Group's current economic and regulatory
assumptions which remain unchanged since our recent 2009 preliminary results
announcement, the Group believes that it will be profitable on a combined
businesses basis in 2010.

The Group will publish its Interim Management Statement on 27 April 2010

Looks like Lloy's in for a good day

LLOY - 60.25p +4.70p (8.46%)

Lloyds Bank Expects To Return To Profit In 2010

Lloyds Banking Group PLC (LYG) said Friday that it expects to return to profit in 2010 as it reported a strong trading performance in the first 10 weeks of 2010, underpinned by good income growth, lower-than-expected impairment provisions and a tight rein on costs.

In a trading statement ahead of Chief Executive Officer Eric Daniels' presentation at a conference next week, Lloyds said "the banking net interest margin is trending in line with recent guidance and this has supported a good level of income growth, on a combined businesses basis and excluding last year's gains from liability management transactions."

In February, the 41% government-owned bank reported a 2009 pretax loss for its combined businesses of GBP6.3 billion compared with a GBP6.71 billion loss a year earlier.

Costs have also "remained well controlled and are lower than the equivalent period in 2009," the statement said.

Lloyds said impairment provisions are currently trending at lower levels than anticipated and as a result it now expects to deliver a better impairment performance than previously flagged, in both the retail and corporate businesses, in 2010.

"Overall, based on the group's current economic and regulatory assumptions, which remain unchanged since our recent 2009 preliminary results announcement, the group believes that it will be profitable on a combined businesses basis in 2010," Lloyds said.

Daniels' presentation at the Morgan Stanley European Financials Conference on March 24 "will focus on the opportunities for the group to build sustainable earnings momentum," Lloyds said. He will also update the guidance provided in the group's 2009 results announcement on Feb. 26.

Lloyds will publish a trading update on April 27. Its shares closed at 56 pence Thursday, valuing the bank at GBP37.17 billion.

Buys today.

BREAKOUT since the adjustment of last December open offer

       Look at me I am talking to you

money am chart says 74.33p maybe one day as is closing the GAP.
but the truth is 61.16p yet a full 1p UP not the same for the other banks I am afraid to say.



Did I say on the past that is not working properly, or was only the Silly COWSHARE

That is right, only LLOY on the BLUE

Closing market Report

Among the banks, Lloyds led the pack, up 1.9p at 63p, with Barclays ahead 4.3p at 357.9p and Royal Bank of Scotland 0.28p higher at 44.06p. FTSE100 new-boy Investec rose 6.5p at 558.5p.

Late on the day it seems SHORTERS were jumping the clif, as the share price went over some resitance at 62.25p.