PPI...they are giving money away. I know someone who is to receive over £2K in 'compensation' no way did he ever pay out anything near £2K in insurance!

Another day - flat

ppi to cost over 8b .
and they have so far only paid out 40%

We paid for six months for the insurance, but refused to claim. It is not moral to claim, in my view.

ahoj why is it not moral

I accepted it at the time and paid the cost, never claimed. so what is wrong?

you are honest

i have never taken out a loan in my life

No!

I bet you have been on borrowed time more often than you realised.

fred you live in a never never world full of shite
get out and look around the world is not a nice place
these days down to religion

3 month high hit earlier @37.20 - eyes down for tomorrow!

Results tomorrow:

On 8 November, Lloyds Banking Group (LBG) issued an interim management statement in which its stated that in the first nine months of 2011 it made a statutory loss before tax of £3,858m (2010: profit of £1,967m). LBG also reported that profit before tax fell by 30% to £1,748m, in the first nine months of 2011, on a combined businesses basis," Clarke wrote.

Wait. There is more.

"This differs from the statutory results as it is before a number of items such as the integration, simplification and EU mandated retail business disposal costs of £1,066m (2010: cost of £1,172m), volatility arising in insurance businesses of -£737m (2010: £110m), amortisation of purchased intangibles -£428m (2010: -£478m), provision in relation to German insurance business litigation of - £175m (2010: £0m), the cost of the £3,200m PPI insurance provision this year and a pension curtailment gain of £1,019m in 2010," Clarke continued.

Nomura says that the things to look out for in Lloyds' results are: any comments made regarding the progress of the Verde sale; comments around the revenue outlook for core and non-core; asset quality trends and any indications of outlook for 2012;

Tanker

You say at 22 Feb 2012 15:21 - 3991

i have never taken out a loan in my life

Have you not heard of the term 'Gearing'?

eg, You want to buy an asset for £100,000. In fact, you think it's so attractive and you are so sure you are going to make 20% per year from it, that you really would like to buy two of them.

But you only have £100,000.

Well if you buy one of these, then in one year you'll have £120,000.

You'll have made 20% on your initial investment. In fact, you'll have made 20% on your total investment.

Now let's get some 'gearing' going on it.....

You find out you can borrow £100,000 at 4% per annum. So you arrange to do so.

Now you've got your £200,000 and can buy two assets.

One year later you've got £240,000 and have spent £4,000 on loan interest. So this equals £236,000 in total.

So your original £100,000 has now made you £36,000 instead of £20,000.

That's 'gearing' for you.

There's only one thing wrong with borrowing money. That is, not being able to pay it back without crippling yourself in the process.

I do hope, that in this example, the funding of the £4,000 interest didn't cripple you. But I do suppose you could have funded it out of the extra £16,000 you made out of the whole deal.

I wondered how that term worked, thanks exec.,.

Final Results Part1.

Final Results Part2.



Key highlights

'In 2011, we established our longer term strategy for the Group, acted quickly and decisively to mitigate the effects of a challenging environment and put in place the right foundations to deliver on our objectives over the next 3 - 5 years, whilst continuing to support the UK economy. Using the framework set out in our Strategic Review, we accelerated strengthening our balance sheet, decreasing risk and reducing costs. The investments we made behind our brands, distribution, customer relationships and people have strengthened our franchise, and created new opportunities which will enable us to realise over time the Group's full potential for growth.'

Antonio Horta-Osorio

Group Chief Executive

GOOD PROGRESS AGAINST STRATEGY CREATING NEW OPPORTUNITIES FOR GROWTH

· Balance sheet further strengthened

- Capital position strengthened: Core tier 1 capital ratio of 10.8 per cent, improved by 60 basis points.
- Strong deposit growth: customer deposits (excluding repos) increased 6 per cent to £406 billion.
- Funding position significantly improved: wholesale funding reduced to £251 billion, down 16 per cent.
- Strong progress against term funding objectives with £35 billion of wholesale term issuance.
- Loan to deposit ratio substantially improved to 135 per cent (31 December 2010: 154 per cent).

· Reshaping our business portfolio: reducing risk, focusing on the core, and exiting non-core areas.

- Substantial non-core asset reduction of £53 billion to £141 billion.
- Conservative approach to, and prudent appetite for, risk fully embedded across the business.
- Increased focus on the core business, while substantially decreasing non-core assets.
- Announced exit from operations in seven overseas countries.

· Simplifying the Group: reducing costs and creating a new operational model.

- Integration successfully executed, realising annual run-rate savings of more than £2 billion.
- Strong initial progress on delivery of simplification initiatives, using our proven capabilities from Integration.
- Simplification run-rate cost savings of £242 million at end 2011.

· Invest to be the best bank for our customers: creating new opportunities for growth.

- Successful launch of multibrand strategy, including relaunch of Halifax as a challenger brand.
- Support for Small and Medium-sized Enterprises (SMEs) strengthened: Merlin commitments exceeded, and Commercial loan growth of 3 per cent against UK market down 6 per cent.
- Good bancassurance progress with Retail and Commercial (SME) customers.
- Increased market shares in key, capital-light Wholesale products, facilitated by Arena platform.
- New Wealth propositions developed covering 80 per cent of customers, and processes simplified.

terrible results and will not look at divs till at least 2015 and will be in the hands of tax payers for 5 more years

E DANIELS holders will rewarded in 2012

if i was in my teens i would be buying for my pension . but if you are over 59 for get it

Why?

WHY . look at the mess daniels and the board did it will take years to turn this aroubd and 68B SHARES