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.

How the feck are these one of the London 2012 official sponsors ?????

Moddy's rating review

OUTCOME OF MOODY'S RATING REVIEW REFLECTS SUBSTANTIAL PROGRESS IN DELIVERING STRATEGY

As part of a rating review across 114 European financial institutions announced on 15 February 2012, Moody's Investors Service (Moody's) last night published the outcome of its rating review of Lloyds TSB Bank plc.

The outcome of the review reflects the substantial progress we are making in delivering our strategy to reshape the business, strengthen our balance sheet, simplify our operations and invest behind our leading franchises.

Moody's have confirmed that Lloyds TSB Bank plc's short-term Prime-1 rating remains unchanged. The longer-term senior debt and deposit ratings have been lowered by only one notch to A2 from A1, and the standalone credit assessment has also been lowered by only one notch to baa2 from baa1. The outlook is stable on the standalone credit assessment, and negative on the A2 senior debt and deposit ratings reflecting Moody's medium-term view of lower systemic support for UK banks.

In their rating, Moody's have recognised the strength of our leading UK-based customer franchises and substantial progress we have made in delivering our strategic plan. Moody's have particularly acknowledged our strong capital ratios and our track record of delivering on our restructuring targets, including the integration of HBOS, the reduction of non-core assets, and our progress on strengthening the bank's funding and liquidity profile. Although the lowering of the senior debt and deposit ratings reflects the challenging operating environment in the UK and also in Europe and our use of wholesale funding, these new ratings are not expected to have a material effect on our funding costs and market capacity.

António Horta-Osório, Group Chief Executive, said: "I am pleased that Moody's have recognised the substantial momentum we have made in de-risking our balance sheet and delivering on our strategy. I expect this momentum to be sustained as we continue to deliver on our promise of being the best bank for customers and shareholders."

- END -

Perhaps LLOY has reached a turning point their interim results due soon should dictate the direction of the sp.

PROJECT VERDE - UPDATE
Lloyds Banking Group ('The Group') has made considerable progress with the Co-operative Group (Co-op) on the Verde transaction. The Group and Co-op now have an understanding on the commercial terms for the transaction. This is subject to agreeing satisfactory documentation, the approval of their respective boards, and further discussions with the FSA, HMT and the European Commission.

During this final phase of the discussions, and in order to proceed to 'Heads of Agreement', negotiations with the Co-op will proceed on an exclusive basis.

The Verde business has 632 branches across the UK with c.5m customers representing 6% of the UK branch network and, when combined with the Co-op business, c.7% of UK current accounts. The proposed transaction would be based upon a revised smaller business perimeter, which has no funding gap in terms of assets and liabilities, and is likely, in terms of scale, to have equity capital of £1.5 billion supporting it.

We have informed NBNK Investments plc of today's announcement and we appreciate their interest in the Verde business.

RESPONSE TO FSA INTEREST RATE PROTECTION PRODUCT REVIEW
Lloyds Banking Group notes the announcement this morning from the FSA with regard to the sale of interest rate protection products to small and medium sized businesses. The Group has assisted the FSA fully in relation to its review and has agreed to work with an independent third party to carry out a thorough assessment of sales of these products to certain customers.

Interest rate derivative products are not products the Group has sold widely.

Given the limited exposure of the Group to these products the financial impact of this remediation and the associated costs are not expected to be material to the Group.

Halifax online sharedealing facility is down, great.
2517

HEADS OF TERMS AGREED FOR MANDATED DIVESTMENT

Lloyds Banking Group plc ('The Group') has agreed non-binding heads of terms with the
Co-operative Group plc ('Co-operative') for the mandated retail and commercial divestment known as Verde.

Upon completion (estimated by the end of November 2013), the Co-operative is expected to acquire:

· 632 branches (which when combined with its existing network will have around 1,000 branches representing approximately 10 per cent of today's UK network).

· 4.8 million customers including 3.1 million personal current account customers, meaning the combined business will have approaching 7 per cent of today's personal current account market.

· A balance sheet of c. £24 billion with fully 'matched' assets and liabilities.

· The TSB and Cheltenham & Gloucester (C&G) brands.