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Lloyds Bank (LLOY)     

mitzy - 10 Oct 2008 06:29

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

skinny - 29 Oct 2014 06:28 - 4694 of 5370

Deutsche Bank Buy 73.50 73.50 95.00 97.00 Reiterates

HARRYCAT - 06 Nov 2014 08:10 - 4695 of 5370

(Reuters) - British bank Lloyds has taken another 900 million pound charge to compensate customers mis-sold loan insurance, delivering a further blow to the lender which only narrowly passed European health checks on the sector's finances.

The new charge announced on Tuesday took the bank's total cost to cover the mis-selling of payment protection insurance (PPI) to 11.3 billion pounds, more than any other bank and close to half of the total bill for the industry.

The policies were meant to cover repayments if customers fell ill or lost their jobs but were often sold to people who did not need them or would be ineligible to claim.

Analysts at Citi said they expected Lloyds Banking Group Plc to set aside another 1 billion pounds for PPI compensation next year and Lloyds Finance Director George Culmer told reporters on a conference call he could not rule out further increases.

Culmer said complaints about PPI had risen by "about 2 or 3 percent" in the third quarter from the previous three months, although he said they were still down 18 percent on the year.

Lloyds said that, if it were to see a similar level of complaints in the fourth quarter as in the third, the required provision would increase again by 600 million pounds. However, Culmer said complaints had fallen by about 8 percent in the first three weeks of October.

"It's certainly reassuring to see that it's started to fall again," he said.

The new mis-selling charge comes two days after the bank, 25 percent-owned by the British government, only narrowly passed a test set by regulators to assess whether banks have enough capital to weather another economic crash.

Lloyds, which was the worst performing British bank in the European stress tests, faces a further test by the Bank of England (BoE) in December which will measure its resilience against scenarios including a 35 percent decline in house prices and a rise in interest rates to 6 percent.

The result of that test will be key to whether the bank is cleared by Britain's financial regulator to pay its first dividend since it was rescued by a 20.5 billion pound government bailout during the financial crisis of 2007-2009.

"Whilst we do not see failure as having capital-raising implications, we no longer expect Lloyds to pay a 2014 dividend," said Macquarie analyst Ed Firth.

Culmer said he expected Lloyds to pass the BoE stress test and remained confident the bank would be cleared to pay a "modest" dividend for 2014.

"The discussions look at earnings, they look at capital and they look at stress tests. We consider ourselves to be in a good position with regards those three criteria as we go into those discussions," Culmer said.

skinny - 06 Nov 2014 09:16 - 4696 of 5370

Exane BNP Paribas Outperform 76.38 - 115.00 Reiterates

skinny - 26 Nov 2014 08:38 - 4697 of 5370

Nice to see 16 bob again!

Stan - 26 Nov 2014 08:47 - 4698 of 5370

Mitzy if your on and don't mind can you change the chart in the header to a monthly one please?

Balerboy - 27 Nov 2014 14:30 - 4699 of 5370

another day in the 16 bob range, along with barc nicely up.,.

HARRYCAT - 28 Nov 2014 18:34 - 4700 of 5370

Thanks Mitzy.

mitzy - 28 Nov 2014 19:07 - 4701 of 5370

Cheers Harry.

Stan - 28 Nov 2014 20:22 - 4702 of 5370

Yep thanks Mitzy.

skinny - 16 Dec 2014 07:18 - 4703 of 5370

LLOYDS BANKING GROUP EXCEEDS PRA STRESS TEST THRESHOLD

skinny - 17 Dec 2014 15:15 - 4704 of 5370

UKFI Announce Trading Plan in Lloyds Banking Group

Intention to sell shares in Lloyds Banking Group plc through a trading plan

UKFI today announces that it intends to sell part of Her Majesty's Treasury's ("HMT") shareholding in Lloyds Banking Group plc (the "Company") over the next six months through a pre-arranged trading plan that will be managed by Morgan Stanley & Co. International plc ("Morgan Stanley").

Under the trading plan, Morgan Stanley will have full discretion to effect a measured and orderly sell down of shares in the Company on behalf of HMT.

Following the publication of the Bank of England stress tests yesterday, the trading plan has been entered into today; however, it is possible that sales may not commence until the New Year. The trading plan will terminate no later than 30 June 2015. HMT has instructed Morgan Stanley that up to but no more than 15% of the aggregate total trading volume in the Company is to be sold over the duration of the trading plan. The number of shares sold under the trading plan will depend on market conditions, among other factors. As with all disposals, delivering value for money for the taxpayer is a key consideration and shares will not be sold below the average price per share that the previous government paid for them.

HMT currently owns 17.8 billion ordinary shares in the Company, which represents 24.9% of the issued ordinary share capital of the Company.

J.P. Morgan Cazenove is acting as Privatisation Strategy Adviser to UKFI. Freshfields Bruckhaus Deringer LLP is acting as Legal Counsel to UKFI in respect of English and US law.

Stan - 17 Dec 2014 15:50 - 4705 of 5370

"As with all disposals, delivering value for money for the taxpayer is a key consideration and shares will not be sold below the average price per share that the previous government paid for them."

Can you remind us what that average is boys and gals?

skinny - 17 Dec 2014 15:55 - 4706 of 5370

73.6p.

Break Even

Stan - 17 Dec 2014 16:01 - 4707 of 5370

Thanks Skinny, call it 74 with the spread.

Fred1new - 17 Dec 2014 16:55 - 4708 of 5370

Just another piece of silver to prop up George's economics.

If it is worth buying then it must be reasonable to keep "nationalise" and the future profits could be ploughed back into the public purse, rather than Cameron's friends, city fraudsters and Morgan Stan.

HARRYCAT - 17 Dec 2014 17:05 - 4709 of 5370

"If it is worth buying then it must be reasonable to keep "nationalise" and the future profits could be ploughed back into the public purse"
I don't see the logic. HMG stake in LLOY was not an investment, it was a bailout, with interest and they (HMG) always said that it is not their policy to invest in private companies nor to remain in LLOY or RBS any longer than necessary. Additionally, until HMG have been repaid for their loan (incl substantial interest) we, the private punters are not going to see any kind of divi which also means that this stock is going to be off the radar of pension funds etc. Roll on the day when HMG is all paid off!

Fred1new - 17 Dec 2014 19:54 - 4710 of 5370

You can still have the joint management and dividends, based on the private and public share.

But the Bank and share holders were bailed out by the public after private incompetent management.

The tax payer in my mind is entitled to a decent and ongoing return for doing so.

Same management with full public oversight.

The more it prospers the more the management and shareholders prosper and also the general public.

skinny - 17 Dec 2014 20:53 - 4711 of 5370

I quite agree Harry - the 'potential' left in these is the 'imminent dividend declaration ( JAN ?)'

skinny - 02 Jan 2015 10:44 - 4712 of 5370

Investec Buy 76.15 85.00 85.00 Upgrades

Fred1new - 02 Jan 2015 10:52 - 4713 of 5370

Well I wish the price would move with "opinion".


2 Jan Investec 85.00 Buy
18 Dec Shore Capital N/A Hold
17 Dec Societe... 96.00 Buy
17 Dec Exane BNP... 115.00 Outperform
17 Dec Deutsche Bank 97.00 Buy
16 Dec Shore Capital N/A Hold
16 Dec Credit Suisse 72.00 Neutral
10 Dec Deutsche Bank N/A Buy
9 Dec Citigroup 82.00 Neutral
8 Dec Exane BNP... 115.00 Outperform
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