So, it is not only UK government being stupid, EU is stupid too.

I think Co-Op will fail to integrate their system and either will have to ask Lloyds to run the branches for them, or EU will oppose the sale as Co-Op is unable to run the branches. Our government should look after our tax - paid to keep HBOS alive and now selling on the cheap.

I think Lloyds should have been forced to sell at least one branch (licence inclusive) to Dave.

I've recorded both and haven't seen them yet - sounds quite an amazing man!

Should help to sell a few more of his vans at least.

Half Year Results


KEY HIGHLIGHTS

FURTHER GOOD PROGRESS ON STRATEGIC INITIATIVES AND RISK REDUCTION

· Balance sheet further strengthened: Group loan to deposit ratio reduced to 126 per cent (core: 103 per cent) and core tier 1 ratio increased to 11.3 per cent; funding position further strengthened, with wholesale funding decreasing by £37 billion in the first half; strong primary liquidity portfolio of £105 billion, covering more than twice our money market exposure of less than one year maturity of £44 billion.

· Substantial progress in reshaping the business: non-core assets reduced £23 billion to £118 billion, ahead of expectations, and international presence reduced, having now announced disposal or exit from 10 countries.

· Simplification savings on track: Simplification annual run-rate cost savings increased to £512 million.

· Continued investment in core growth and new products and services: Group customer deposit growth of 6 per cent and SME net lending growth of 4 per cent year-on-year.

· Signed heads of terms with The Co-operative Group on Verde.

· Moody's short-term rating re-affirmed for Lloyds TSB Bank plc at P-1; long-term rating A2.

· Management team further strengthened; appointed George Culmer, Andrew Bester and Cathy Turner.

RESILIENT UNDERLYING PERFORMANCE GIVEN CHALLENGING ENVIRONMENT

· Management profit increased 6 per cent to £1,165 million.

· Group underlying profit increased £715 million to £1,064 million, with fall in income more than offset by cost and impairment charge reductions.

· Core underlying profit of £2,977 million, down £231 million, with benefit of lower costs and impairments mitigating the effect of lower income.

· Group return on risk-weighted assets improved to 0.62 per cent from 0.18 per cent in the first half of 2011; core return on risk-weighted assets broadly stable at 2.48 per cent (from 2.50 per cent in the first half of 2011).

· Group banking net interest margin of 1.93 per cent, down 19 basis points compared to the first half of 2011, mainly reflecting higher wholesale funding costs; resilient core banking net interest margin of 2.32 per cent, down 11 basis points.

· Group total costs down 6 per cent with increased investment and inflation more than offset by Simplification savings.

· Group impairment charge reduced 42 per cent, ahead of expectations, with further asset quality improvements, in spite of the difficult environment.

· Statutory loss before tax of £439 million, including a further provision relating to costs of customer contact and redress on legacy Payment Protection Insurance business of £700 million in the second quarter, following an additional £375 million provision in the first quarter.

OUTLOOK AND GUIDANCE

· On track to meet 2012 financial guidance, including for full year banking net interest margin to fall year-on-year by approximately the same amount in 2012 as in 2011. Assuming current economic trends continue, expect the 2012 impairment charge to be lower than previous guidance.

· Expect achievement of long-term Group loan to deposit ratio target of 120 per cent by end Q1 2013.

· Now expect non-core assets to reduce to below £70 billion by the end of 2014; non-core reporting to cease at that time.

· Increasing clarity on regulatory framework to provide greater certainty to operating environment and recent changes supportive of economic growth; working to accelerate adoption of ring-fence given aligned business model.

LLOYDS BANKING GROUP ANNOUNCES SALE OF INTEREST IN A PORTFOLIO OF PRIVATE EQUITY INVESTMENTS

Lloyds Banking Group plc (the Group) announces today that it has agreed the sale of a portfolio of private equity-related investments with gross assets of approximately £1,050 million and the transfer of undrawn commitments which are expected to be £220 million at completion (the Portfolio) to a fund (PE1 LP) financed by Coller International Partners VI1 for a cash consideration of approximately £1,030 million. After the reversal of the related available-for-sale reserve, the transaction is expected to result in a pre-tax gain for the Group. Following the sale, the Group will continue to manage the fund in return for a management fee, which is likely to be less than £10 million per annum. The sale proceeds will be used for general corporate purposes.

Starting to look a little more lively!

I guess not being named today is "positive".

significant break upwards next stop 40p

Next target 40p........hope the 'stop' bit of your comment was an error, h!

Why is the Lloyds share price so strong at the moment

Because I sold mine, 50K, yesterday well below 33p!!

Ahoj, know how you feel sold bdev and TW tooooo soon.,.

Back looking at the 38p level.

March High (37.38) just broken 37.50p

Nicely cleared 40p.

100p

When?

End January, when they start talking about dividend, IMO.

Wow! Can't wait! Should have bought some more in November. Hindsight and foresight are wonderful things. I hope you are right.