On radio 5 live at 5.30 am they said it was a basket case.

What exactly was said, please Mitzy?

They have too much exposure to the housing/mortgage market compared to the other banks and so will struggle in 2011.

Read B3 of todays Telegraph.

jim white in tele on sunday .
pension fund managers are useless do not put money in to them
better to put your money under your pillow .
i have been saying this for years .
just go to the ftse 100 AGMs they sit there like lemons and NEVER question any thing it is just a days jolly

Mitzy - I "Listened Again" and the words "basket case" didn't fit with my interpretation of what was being said. The Telegraph today was just a re-hash of the weekend press with good points and bad points. I'm more worried about the knock-on affect on all banks if there is a disorderly default by the Greeks. Meanwhile, if LLOY drops to the low thirties, as Tanker predicts, I'll be in there for some.

I'm sure I heard David Bruick of Cantors say they were a basket case but at 5.30 am I am half asleep.

Taken from Hargreaves Lansdown.

Lloyds Banking Group's exposure to the riskiest kind of mortgages is more than double that of any of its top five rivals in what is potentially a ticking time bomb for Britain's largest high-street lender. Data published last week by the Bank of England showed that loans representing more than a quarter of Lloyds' mortgage book are worth at least 90 per cent of the property value they are secured against, according to the Financial Times.

it is correct lloys to annouce many more W/D
this week he did say 5 years to break even .
daniels was and is a top banker .
what a bloody joke .
why are they not in prison thats the question

I reckon 25p by end of the year kev.

Fillya boots at that price!

lol.

pension funds have lost a fortune in lloys that is why they are crap
i am glad i did not let these muppets near my money that is why i retired at 54 now coming 63 and loads of cash to spend .

sercet do not put money into pension funds

Just had my annual endowment statement from Aviva looks like up to 30% shortfall on the target amount. Luckily I have paid off the mortgage it was meant to cover. But it does make you think,in 25 years I have never missed or been late for a payment while the managers have never missed taking their inflated bonuses.They should hang their heads in shame.Oh and who sold me the endowment with promises of paying off the mortgage and have money left over?? Natwest bank.They are all tarred with the same brush. Bring back the stocks!!! Now where did I put that rotten Tomato????????????????????

bee. i invested my money my self i have been taking 30k a year for the last 9 years and it has still gained over 34k.
you must remember that these fund managers are only dim wits and are there because the man who gives out the jobs does not want some one better than him self
and he is only there via friends .
it says it all

why did the tory gov allow the new ceo to get is millions
when they own 41 percent the mind boggles cameron and party are liars and yes i am a tory but next time bnp

they will have no problem with getting 15000 to take up the offer i no of at least 23

the buys and sells are close and up 9 percent

Merrill's view:

Key targets Income, costs, bad debts; 12.5-14.5% RoE
1. Core income growth above nominal GDP, driven by other income. 2. Group
NIM expected to be between 2.15-2.30%. The market had been concerned that
the target would be c. 2%. We have 2.11% in our NIM for 2013e. 3. 1.7bn of
costs savings by 14. This should allow the group to reduce costs by 1bn to
10bn versus the 10 cost base. There will be 1.5bn of restructuring costs,
spread over several years. The cost income ratio is expected to be 42-44% by
2014 (we forecast 47% in 13). 3. Bad debts at 50-60bp - in line with the old
target. We have 55bp in our forecasts in 13. 4. Core loan to deposit ratio of
120%. This equates to 130% at group level, and implies no further restructuring.
5. ROE target of 12.5-14.5% post branch disposals, based on core tier 1 of >10%.
6. The non-core run off is expected to be capital generative. We think the targets
support consensus (8.3p in 13e) and our forecasts of 9p, and should be taken
well today.
2011 guidance slightly better than before
Lloyds are guiding to a NIM of above 2%, slightly lower costs and lower bad
debts. The NIM and cost comments are better than our forecasts. Lloyds has now
repaid the SLS. Importantly there are no huge provisions from Ireland or the UK.
Whats not said is as important as the new targets
There had been concerns that provisioning requirements on Ireland, the UK CRE
book and UK mortgages would hit book value. This, and concerns over any
potential Widows disposal and restructuring charges meant investors lost
confidence in the 56p T/NAV. Their concerns are not going to evaporate
overnight, but the absence of these issues today should restore some confidence,
and allow the stock to recover back toward T/NAV, then beyond. Reiterate BUY

nothing in the report about bonus payments so it just the ofice staff to get the cuts not the bankers or the board

Incredible they sack 15000 middle managers and the sp rises 10%.