well first lot bought this morning. we'll see what happens. I like the price but I don't like the ftse chart

2.3b lose the board must resign .
but they could not care there are only interested in there
pay

just for interest, comparative performance of lloy (blue), barc (green) and rbs (red)

UK Bank Lloyds Reports 3.25bn Loss


Related Quotes
Symbol Price Change
LLOY.L 40.10 +1.14


Sky News 2011, 9:04, Thursday 4 August 2011

Lloyds Banking Group (LSE: LLOY.L - news) has reported a bigger than expected loss of 3.25bn, the same amount it has set aside to pay for the mis-selling of Payment Protection Insurance.

The pre-tax loss of 3.25bn was for the first half of 2011, compared to a 1.3bn profit in the same period last year.

Excluding the 3.2bn which Lloyds set aside to cover mis-selling PPI, the bank's underlying profits plunged 31% to 1.1bn.

That compares with a 596m net profit in the first half of 2010.

Bailed-Out Banks 'Will Be In Debt For Years'
0 Comments7:23am UK, Thursday August 04, 2011

Ashish Joshi, Sky News correspondent

British taxpayers face a "waiting game" to see when public money used to bail out struggling banks in 2008 will ever be returned.

Four banks were nationalised during the height of the credit crisis two-and-a-half years ago.

On Wednesday Northern Rock reported half-year losses and today Lloyds Banking Group announced pre-tax losses of 3.25bn.

Royal Bank of Scotland (RBS) is predicted to report a 3bn loss on Friday.

Based on the current share price the Government has a 45.22bn stake in RBS.

It also holds 17.42bn worth of shares in Lloyds Banking Group. The Bradford and Bingley has been loaned 27bn of public money.

Northern Rock Asset Management currently owes the Government 20.7bn and in addition 1.4bn has been invested in Northern Rock PLC - the high street arm of the business.


There is a wider responsibility here as well, for the banks to give something back to the rest of the economy they have damaged.

Simon Chouffot, the Robin Hood Tax Campaign
According to these figures, each British taxpayer has an exposure to these banks of more than 3,500.

City analyst Chris Skinner is sure the Government's investment will be returned but warned it could take a number of years.

"The situation right now that the banks' share prices have been hammered. The Government has lost up to 40% of the investment it made. They invested some 76bn so they've lost somewhere around 30-40bn in Lloyds Banking Group and RBS alone.

"Originally I thought 2013 or 2014 would have been a good time for the banks to be sold back to private investors and make some money. Now maybe we're looking at 2015 or even later. It's really a waiting game."



Analysts say it could take years for the Government's investment to be returned


The focus right now may be on the nationalised banks but the industry as a whole has been the beneficiary of some serious cash courtesy of the Bank of England.

Since March 2009, 200bn has been pumped into the economy through quantitative easing. It is figures like these that vex banking reform campaigners.

Simon Chouffot from the Robin Hood Tax Campaign says it is time for the banks to be more collectively responsible.

"That is one incredible IOU from the banks to society. I think eventually we'll see some of that money but not all of that money. But there is a wider responsibility here as well, for the banks to give something back to the rest of the economy they have damaged.

"People have lost their jobs, our services have been hit as a result of the banks' behaviour

Is international section of the bank profitable?

I doubt it as had big exposure to Eire, so had to write off much of their debt.

What a waste of tax payers money. The government had no choice, otherwise the system would have melted.

We need a Chinese financial company to run this baby.
The reputation of Lloyds worth more than its current market value.

with it being a major sponsor of the London Olympics, this will survive until at least next year and then let's see where the economy is. until then it's going to be a rock ride ! what hope for RBS !!!

soon be 35p . i keep telling you the board are crap
they are no beter than people i employ on the factory flloor
no i think they have more ideas and would put this lloys board to shame
but you can not shame the shameless

So It would not be a bad guess saying you are not going to purchase any TANKER. lol

What would you do differently, Tanker?

this company was destoyed by this board of directors .
the reason is because they are to scared to speak out
they sit in meetings to scared to speak out about the poor decision
to employ this useless ceo and a dimwit of a chairman
would statedaniels was doing agreat job at lloys
he should be sacked .my insight to a reckless board makes me
feel ashamed to be apart of the uk .

not one of the board will speak out

put me in chargeof this bank and with in 6 monhs it would be over 100p for a cert

100p would do me Tanker. But what would be your strategy to get there?

there would not one person on he board left at lloys to start .
then i would split lloys in to two banks .i would then pay no bonuses
till we was making good profits the holders would have equal holdings in both banks
and all profit would go to buying out the gov holdings .
all these clowns now running lloys just want to fill thee pockets .

You will not keep staff?

yes i would staff that care and honest.
there are very good people on the srap heap sacked by these useless muppets
i would pay good salary to one man the man that left HSBC m/g.he is the best banker by far.

If all banks cut bonuses fair enough. Staff from HSBC at the moment would not touch this bank. Would need to turn around big time.