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Lloyds Bank (LLOY)     

mitzy - 10 Oct 2008 06:29

Chart.aspx?Provider=EODIntra&Code=LLOY&S

skinny - 11 Oct 2013 09:02 - 4510 of 5370

Back above 15 bob a share.

halifax - 11 Oct 2013 10:06 - 4511 of 5370

Qtr 3 interim management statement Tuesday 29th October 2013

skinny - 23 Oct 2013 07:44 - 4512 of 5370

Citigroup Neutral 78.12 78.12 - 83.00 Reiterates

skinny - 24 Oct 2013 08:35 - 4513 of 5370

16 bob anyone?


Chart.aspx?Provider=EODIntra&Code=LLOY&S

HARRYCAT - 24 Oct 2013 08:40 - 4514 of 5370

Awesome! A H-O doing a great job. Think £1 by Xmas might be asking a bit too much though!

skinny - 24 Oct 2013 08:43 - 4515 of 5370

I'm now 48% up on these.

I had - as mentioned previously - as good as written them off at one point.

HARRYCAT - 24 Oct 2013 12:09 - 4516 of 5370

Aberdeen Asset Management PLC (the "Company") notes recent press speculation and confirms that it is in discussions with Lloyds Banking Group PLC ("Lloyds") in relation to a possible acquisition of Scottish Widows Investment Partnership and the formation of a strategic partnership with Lloyds.

The potential acquisition would add further scale and diversity to the Company's product range, thus complementing organic growth, consistent with the Board's strategy.

skinny - 24 Oct 2013 12:20 - 4517 of 5370

New 4 year high @79.95p

skinny - 24 Oct 2013 12:22 - 4518 of 5370

Harry, here's a link - Aberdeen Plots Share Raid For Lloyds Division

skinny - 24 Oct 2013 15:37 - 4519 of 5370

16 Bob gone.

skinny - 24 Oct 2013 15:52 - 4520 of 5370

Gap closed?

Chart.aspx?Provider=EODIntra&Code=LLOY&S

HARRYCAT - 24 Oct 2013 15:57 - 4521 of 5370

Now where to then? 110p?.........I wish!

halifax - 24 Oct 2013 16:13 - 4522 of 5370

HARRY wait for qtr3 announcement next Tuesday.

skinny - 24 Oct 2013 16:36 - 4523 of 5370

Uncrossed at the high of the day @80.12p

HARRYCAT - 24 Oct 2013 19:18 - 4524 of 5370

Cheers h. I assume you are promising good news???? Oh boy, oh boy, oh boy.......! ;o)

TenDeals - 24 Oct 2013 19:27 - 4525 of 5370

600 by Xmas

Fred1new - 24 Oct 2013 21:45 - 4526 of 5370

Which Xmas?

HARRYCAT - 28 Oct 2013 11:58 - 4527 of 5370

Note from Investec today:
Lloyds is, we believe, in very good shape. Although we do expect another weak statutory result in Q3 2013e, (reflecting a raft of legacy, one-off and/or accounting/tax issues), “underlying” metrics should show very material progress in terms of recovering revenues driven by sharp NIM expansion and a further decline in impairments. However, after an 11% 13-day surge, we now see Lloyds, on 1.5x 2013e tNAV, at fair value. We continue to prefer Lloyds to RBS (Sell) but see notably better value in Barclays (on 0.9x 2013e tNAV). Lloyds Q3 IMS is due on 29 October 2013 at 7am. We forecast an “underlying” PBT of £1.5bn in Q3e – marginally ahead of Q2 2013 and well ahead of prior year, reflecting a continuation of the materially lower impairment trends already seen through H1 2013. We continue to forecast a very sharp QoQ expansion in Net Interest Margin from 2.06% in Q2 to 2.14% in Q3 2013e. Even assuming “seasonally lower” Other Income, we still expect 1% QoQ growth in Total Operating Income to £4.7bn, with costs, impairments and claims flat QoQ.
In Q2 2013, basic EPS fell 98% QoQ from 2.2p to 0.0p, largely reflecting non recurrence of Q1 positive one-offs (St James’s Place, gilt sales, insurance volatility) and £0.6bn of fresh conduct charges. In Q3e, although we assume much lower incremental conduct costs, with the Heidleberg loss on disposal (£330m), the Australian DTA writedown (£350m) and other minor accounting noise, we anticipate an EPS of only 0.2p in Q3 2013e. Indeed, given that we forecast just 0.3p in Q4 2013e (partly reflecting an assumed £0.4bn conduct provision “top-up”) our full year 2013e basic EPS forecast of only 2.7p appears wildly out of line with the Bloomberg consensus expectation of 4.1p.
We downgrade from Buy to Hold. Our RoE-g/CoE-g-derived 80p target price is unchanged. We expect a 1p dividend to be declared in February 2014e."

skinny - 29 Oct 2013 07:03 - 4528 of 5370

Lloyds Banking Group PLC Q3 2013 Interim Management Statement

Significant progress in delivering our strategy and supporting our customers
· Continue to support the UK economy through lending to SMEs and first-time buyers, and the Help to Buy scheme
· Core loan book now growing in all divisions; returned mortgage lending to growth in the third quarter
· Returned TSB to the high street and launched a rebranded, revitalised Lloyds Bank in September
· Further strong performance in customer service and in reducing customer complaints
· Non-core asset reduction ahead of plan and capital accretive; year end non-core targets already achieved
· Further increased UK focus with sale of Australian and German businesses; 2014 international presence target achieved
· Further progress in strengthening capital position despite an additional charge for legacy PPI business in the quarter

Substantial increase in Group underlying profit and returns
· Underlying profit increased by 136 per cent to £4,426 million in the first nine months of 2013
· Return on risk-weighted assets increased to 2.01 per cent (first nine months of 2012: 0.74 per cent)
· Underlying profit in the quarter of £1,524 million, up 7 per cent on second quarter and 83 per cent on third quarter of 2012
· Underlying income of £14,019 million in the first nine months, up 1 per cent
· Net interest margin increased 13 basis points to 2.06 per cent, and to 2.17 per cent in the third quarter
· Costs reduced by 6 per cent to £7,110 million, and the impairment charge by 44 per cent to £2,483 million

Strong core business performance, with further increase in profitability and returns
· Core underlying profit increased by 20 per cent to £5,549 million; third quarter up 2 per cent on second quarter
· Core return on risk-weighted assets increased from 2.57 per cent to 3.17 per cent
· Core underlying income of £13,500 million, up 5 per cent (up 2 per cent excluding St. James's Place effects)
· Core margin improved 12 basis points to 2.44 per cent; core impairment charge down 9 per cent to £1,231 million

Statutory profit before tax of £1,694 million; tangible net asset value per share of 51.1p
· Statutory profit before tax of £1,694 million (nine months to 30 Sept 2012: loss of £607 million) including an additional charge for legacy PPI business of £750 million
· Tangible net asset value per share of 51.1p (31 Dec 2012: 51.9p; 30 Jun 2013: 54.6p); third quarter change mainly due to loss on capital accretive non-core disposals, related deferred tax write-off, and adverse pension and PPI movements

Continued balance sheet strengthening and risk reduction
· Group loan to deposit ratio improved to 114 per cent (31 Dec 2012: 121 per cent); core ratio maintained at 100 per cent
· Estimated pro forma fully loaded CRD IV core tier 1 ratio increased to 9.9 per cent (31 Dec 2012: 8.1 per cent)
· Non-core assets reduced to £70 billion (pro forma) in a capital accretive way and non-retail non-core to £30 billion

Guidance further enhanced; remain confident in delivering strategic plan
· Net interest margin now expected to be 2.11 per cent for full year 2013 (previously expected to be close to 2.10 per cent)
· Non-core assets expected to be around £66 billion, with non-retail non-core at around £26 billion, at the year end;
around £15 billion of non-retail non-core assets expected at the end of 2014
· Guidance for costs and capital position remains unchanged
· Expect to continue to grow core loan book in remainder of the year

skinny - 29 Oct 2013 07:57 - 4529 of 5370

Goldman Sachs Neutral 0.00 75.00 76.00 Retains
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