Sainsbury's Bank

In accordance with DTR 1 1.3.6, the Company made the following statement at 3pm on Sunday 5 May 2013:

J Sainsbury's notes the press speculation concerning Sainsbury's Bank and confirms it is in advanced negotiations with Lloyds Banking Group to take full ownership of Sainsbury's Bank. A further announcement will be made in due course.


END

sp touching 57p.

2 year high @57.57 atm.

Lloyds to cut 850 jobs in plan to reduce costs

LONDON | Thu May 9, 2013 12:29pm BST
(Reuters) - State-backed Lloyds Banking Group (LLOY.L) said on Thursday it would cut 850 jobs in commercial banking, retail, and other operations as part of plans to reduce costs.

Lloyds, 81 percent owned by the British taxpayer, said the cutbacks were part of a strategic plan announced in 2011 to let 15,000 staff go and save 1.5 billion pounds a year.

81pc owned by the taxpayer. Wrong bank, Mr Reuter.

LONDON | Thu May 9, 2013 1:01pm BST
(Reuters) - State-backed Lloyds Banking Group (LLOY.L) said on Thursday it would cut 850 jobs in commercial banking, retail, and other operations as part of plans to reduce costs.

Lloyds, 39 percent owned by the British taxpayer, said the cutbacks were part of a strategic plan announced in 2011 to let 15,000 staff go and save 1.5 billion pounds a year.

(The story corrects to state Lloyds 39 percent owned by taxpayer, not 81 pct)

Now sp 58p shorters must be enjoying the run to 60p!

SALE OF UK COMMERCIAL REAL ESTATE LOANS PORTFOLIO

Lloyds Banking Group plc (the Group) announces today that it has agreed the sale of a portfolio of UK commercial real estate loans (the Portfolio) to Promontoria Thames Limited, an entity affiliated to Cerberus Global Investments for a cash consideration of £325 million. The transaction is part of the Group's continued non-core asset reduction.

The gross assets subject to the transaction are £527 million. The Portfolio generated losses of £47 million in the year to 31 December 2012. The sale proceeds will be used for general corporate purposes and the transaction is not expected to have a material impact on the Group due to significant impairment provisions held against the portfolio.

The transaction is expected to complete in the final quarter of 2013.

RNS LLOY will repay the final 3.5 billion tranche of funds borrowed under the ECB LTRO next week things are on the move positively, we may be able to look forward to resumption of dividend payments sooner than some sceptics think.

LLOY AGM next Thursday 16th May.

LLOYDS BANKING GROUP ANNOUNCES BOARD CHANGE

The Board of Lloyds Banking Group announces that its Chairman since September 2009, Sir Winfried Bischoff, will be retiring no later than the shareholders meeting in May 2014. The exact date will be subject to the appointment of his successor.

Commencing immediately Anthony Watson, Senior Independent Director, will lead the search for the Chairman's successor.

Sir Win said:

"Lloyds Banking Group has, over the past four years, made significant progress in its goal to become a strong, efficient, UK-focused retail and commercial bank."

"Whilst clearly some challenges remain, the performance of the Group is well on track. Indeed, in many areas, it is ahead of plan. This gives me every confidence in the future success of the Group and it is therefore a good time to start the search for my successor."

60p.

Lovely!!!

not before time!

why is the AGM being held in Edinburgh again, we thought LLOY was incorporated in England?

Exane BNP Paribas Outperform 59.95 59.37 - 65.00 Reiterates

Credit Suisse Neutral 59.89 48.00 48.00 Reiterates

sp >60p news coming?

LLOY to pay dividend asap.

Prospects improve for UK sale of Lloyds bank stake

EDINBURGH | Thu May 16, 2013 3:41pm BST

(Reuters) - Britain's largest retail bank Lloyds (LLOY.L) expects to return to profit this year, increasing the government's chances of selling its stake before the next general election in 2015.

Prime Minister David Cameron is keen to show that Britain's part-nationalised banks are recovering from the financial crisis and a sale of the 39 percent stake in Lloyds, at a profit, would allow him to claim at least partial success.

Lloyds is further ahead than Royal Bank of Scotland (RBS.L), 81 percent-owned by the government, in the battle to plug property-related losses and give taxpayers back the tens of billions of public funds used to bail the banks out in 2008.

"We expect us to return to profitability this year and to grow our core business, to realise our full potential to deliver strong, stable and sustainable returns for you, the shareholders, and to allow UK taxpayers' investment in the group to be repaid," Chief Executive Antonio Horta-Osorio told shareholders at the bank's annual general meeting in Edinburgh.

He said the bank would resume paying dividends "as soon as we are able".

Good volume this morning - 80p looks achievable and interesting chart wise.