and profits down 28m from 2011.
and no divs for at least 4 more years
and consolidation to come of 1 for 10 .

Intersting that 25% of recent claims for PPI mis-selling by claims management companies are fraudulent, as they are trying to claim for compensation on policies never even held by customers of Lloyds Group.

Some of those claim companies are going to the wall... They deserve it, I wonder why they are still on TV.

Investec has reiterated its buy recommendation and 40p target price for Lloyds Banking Group following the bank's well-received first-quarter results on Tuesday morning.

"In the recent past, financial updates from Lloyds often sounded like a desperate plea for help - but no more," Investec said in a research note.

"If Antonio [Chief Executive] still needs cheering up after the 6% share price rebound of the past eight days then the underlying trends visible in today's numbers could be just the tonic," the broker said.

possible offer for Scottish Widows by Duke hedge fund in the region of £5-6billion would see the sp take-off.

one of only a few gainers today.

nice to learn directors are buying, perhaps some good news coming soon.

the ceo wants enough 6 years to turn the bank around he will retire in 3 years
lloyds banking group

greece of all the very rich greeks they pay no taxes and most reside in monaco .
the most evilalist place on the planet .
that is where all goverments should close there borders and stop them robbing
countrys of taxes and take away there passports that is the only way to treat those thiefs and crooks . but alas all gov are are apart of them. the greeks and the rest of the EU should put down there tools and strike .bring down the rich bg time

What is specific to Lloyds?
It has been falling faster than other banks.

traders suspended investigation into libor fixing.

aren't their PR people amazingly useless no press release about the suspension of traders in libor fixing.

.

.

Starting to look interesting. Another 3p perhaps...........(down, of course!)

6 June 2012

LLOYDS BANKING GROUP ANNOUNCES SALE OF AUSTRALIAN CORPORATE REAL ESTATE LOANS

Lloyds Banking Group plc announces today that it is selling a portfolio of GBP 809 million Australian corporate real estate loans to AET SPV Management Pty Limited, a joint venture comprised of funds sponsored by Morgan Stanley Real Estate Investing and Blackstone for a cash consideration of approximately GBP 388 million. The impact of the transaction on the Group is not material due to the existing provisions taken against these assets. The sale proceeds will be used to repay debt.

The asset portfolio generated losses of GBP 183 million in the year to 31 December 2011.

This transaction is in line with the Group's strategy of de-risking its balance sheet and reducing its non-core assets. Closing is expected to occur in the third quarter after obtaining necessary third party consents.

Commenting on the transaction, Dave Smith, CEO of Lloyds International Pty Ltd, said "This transaction further de-risks the Australian business, and results in a cumulative 92% reduction of our real estate non performing loan portfolio. We continue in parallel to focus on growing the profitable core of our business".


- END -

StockMarketWire.com
Lloyds Banking Group is selling its remittance business in Japan (GoLloyds) to Shinsei Bank.

The total assets subject to the transaction with Shinsei Bank total £1.5m as of 31 December. The group's presence in Japan currently comprises a branch conducting remittance and deposits business.

Further to the disposal of the remittance business the group intends to run down over time its fixed term deposit book within the Japan branch of Lloyds TSB Bank plc.

This transaction is in line with the group's strategy of reducing its international presence.

The impact of the sale on the group's accounts is not expected to be material. The sale of the remittance business to Shinsei Bank is subject to regulatory approval, and is expected to complete during the second half of this year.

Just look at the sp graph after the ruinous marriage with that flirty Haliflax gal.

How many shares (iin LLOY) does one have to sell to get a cup of coffee?

8 shares per cup. It used to be 8 cup a share.

Should have got in at 25p but anything sub 30p is theft. It won't be down at these levels forever, one for the SIPP.