|Bid||56.00 x 2429200|
|Ask||60.00 x 2154700|
|Day's Range||58.10 - 58.86|
|52 Week Range||55.97 - 72.68|
|Beta (3Y Monthly)||0.21|
|PE Ratio (TTM)||10.31|
|Forward Dividend & Yield||0.03 (5.20%)|
|1y Target Est||76.05|
Does Lloyds Banking Group PLC (ADR) (NYSE:LYG) represent a good buying opportunity at the moment? Let’s briefly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and invest millions of dollars on research activities, so it is no wonder why they tend to generate millions […]
Small businesses are being damaged by the closure of branches by British banks who need ways to collaborate on sharing, the Banking Standards Board (BSB) said on Tuesday. "The issue of branch closures needs to get higher up everybody's agenda," BSB chair Colette Bowe told the British parliament's Treasury Select Committee, adding that she has already taken it up with the banking industry's trade body. Alison Cottrell, chief executive of the BSB said a "space" may be needed for banks to discuss "collaboration" on branch closures and branch sharing.
Britain's big banks, long able to shrug off competition from start-ups, have been spooked by an account launched just six weeks ago by Goldman Sachs (GS.N) that pays savers more. One of the banks admitted privately that it has seen a spike in savers switching, while others have launched new accounts or raised rates to try to nip "Marcus" in the bud. British savers have got used to payouts of 1 percent or less thanks to rock-bottom central bank rates, but the launch of Marcus with a 1.5 percent rate on Sept. 27 has shaken things up.
Banks in Britain should review 150,000 rejected complaints about payment protection insurance (PPI), the Financial Conduct Authority proposed on Wednesday. Banks have paid out more than 32 billion pounds ($42.13 billion) in compensation for complaints about mis-selling PPI in Britain's costliest consumer scandal, with Royal Bank of Scotland (RBS.L) setting aside another 200 million pounds last month. The FCA has already set a deadline of Aug. 29 next year for compensation claims, using an animatronic head of actor Arnold Schwarzenegger in advertisments to urge people to claim.
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Britain's financial regulator has told banks to rescue thousands of borrowers "trapped" in poor value home loans, saying the authorities could intervene if need be. Banks came to a voluntary arrangement earlier this year to allow such customers to switch if they meet basic conditions. "We believe this is an important step forward, but the devil is in the detail," said Christopher Woolard, executive director for competition at the Financial Conduct Authority.
A British labour union criticised Lloyds Banking Group (LLOY.L) on Tuesday for cutting 6,000 jobs as part of a reorganisation that the lender said would actually create 2,000 posts overall. "This latest announcement will undoubtedly hit the morale of staff who have had to endure round after round of job cuts, branch closures and constant upheaval," said Rob MacGregor, national officer for the Unite union. In a separate statement, Lloyds confirmed it is creating 2,000 net new jobs to help it provide more digital banking products and services.
Lloyds Banking Group confirmed on Tuesday that it would cut more than 6,000 jobs as part of an overhaul but said it would create 8,000 new roles as it moves to digitise its operations. It is understood that Lloyds believes the majority of staff being made redundant will secure new positions. Lloyds has already axed 50,000 staff and closed 500 branches in recent years.
Europe's top banks may have survived a milestone test of their resilience but strengthened balance sheets count for little when they generate such meagre returns compared with U.S. rivals, investors say. The European Banking Authority stress test results on Friday showed the sector in reasonable financial health, with a clean sweep of 48 lenders judged capable of withstanding economic shocks like a crash in real estate or bond prices. For the first time since 2009, the EU health check of the sector showed all top banks passed a key capital threshold under the most adverse economic scenario.
David Brent: Well, there’s good news and bad news. The bad news is some of you will lose your jobs. Those of you who are kept on will have to relocate to Swindon if you wanna stay. I know, I know. Gutting, ...
(Reuters) - Lloyds Banking Group Plc (LLOY.L) will cut around 6,000 jobs, while adding 8,000 new roles as part of a planned 3 billion pound investment, Sky News reported https://news.sky.com/story/lloyds-to-create-2000-jobs-in-drive-to-digitise-banking-giant-11545673 ...
Lloyds Banking Group Plc will cut around 6,000 jobs, while adding 8,000 new roles as part of a planned 3 billion pound investment, Sky News reported https://news.sky.com/story/lloyds-to-create-2000-jobs-in-drive-to-digitise-banking-giant-11545673 ...
PLC unexpectedly posted the worst results in a stress test of European banks Friday, with a key capital measure dropping close to what investors consider the bare minimum needed to withstand a hypothetical economic crash. The results will amplify investor attention on another round of tests by the Bank of England in December and come as British and European banks attempt to plan for the potential impact of Brexit even as the terms of Britain’s separation from the European Union remain unclear. The capital measure in question, called the common equity tier 1 ratio, dropped as low as 6% at Barclays during the 2018-20 period covered by the test, which featured an adverse scenario that included double-digit unemployment and falling asset prices over the three years.
Britain's Barclays (BARC.L) and Lloyds (LLOY.L) were the surprise laggards in a European Union bank health check on Friday, although none of the 48 lenders tested failed a major capital threshold. The EU's banking watchdog published results on Friday for its toughest "stress test" since 2009, when it began the exercise to identify capital holes and avoid any repeat of the government bailouts triggered by the 2008 financial crisis. The latest test measured banks' ability to withstand theoretical market shocks like a rise in political uncertainty against a backdrop of plunging economic growth, a disorderly Brexit or a sell-off in government bonds and property.
Britain's Barclays and Lloyds were the surprise laggards in a European Union bank health check on Friday, although none of the 48 lenders tested failed a major capital threshold. The EU's banking watchdog published results on Friday for its toughest "stress test" since 2009, when it began the exercise to identify capital holes and avoid any repeat of the government bailouts triggered by the 2008 financial crisis.
Barclays and Lloyds Banking Group were among the worst performers in the EU’s banking stress tests, in a blow to the British lenders as they struggle to improve their profitability and deal with the potential fallout of Brexit. The results nevertheless found that the region’s top 48 banks had enough capital to withstand the worst-case Brexit scenarios. This included a severe recession that would leave the bloc’s economy 8.3 per cent smaller than it otherwise would have been.
The restructuring work at BT has started to deliver early gains after the UK telecoms company said that full-year profit would be at the higher end of its forecast range. Shares in the company surged ...
The company formed last year by the merger of Aberdeen Asset Management and Standard Life recently lost a 109 billion-pound ($139 billion) investment mandate from Lloyds Banking Group Plc, equivalent to about 18 percent of its assets under management. Like most active managers, the company is being squeezed by shrinking profit margins and is seeing investors flee amid threats from cheaper passive funds.
Lloyds Banking Group (LLOY.L) must amend its pension schemes to equalise benefits for men and women following a court ruling that could cost the bank up to 150 million pounds ($191.97 million) and affect thousands of other companies. In a case closely watched by the government, Judge Paul Morgan ruled that Lloyds' pension trustee had a duty to amend the schemes to equalise treatment after three female members claimed discrimination, with women's pensions increasing at a slower rate than those of men in the schemes. The case affects around 230,000 members of the bank's pension schemes, but union BTU has said it could have implications for as many as 7.8 million people in thousands of other schemes across the country, with the cost of equalising all affected pensions put at up to 20 billion pounds.
Royal Bank of Scotland (RBS.L) has set an extra 100 million pounds aside to account for possible bad loans as a result of Brexit uncertainty, in the first concrete sign this is clouding the outlook of a big British bank. The provision means RBS is concerned that its customers might become less able to pay their debts when Britain leaves the European Union in five months' time. While HSBC (HSBA.L) put aside $245 million (191.2 million pounds) at its half-year results to account for greater economic uncertainty, RBS is the first big UK bank to link the move to Brexit.
PLC to equalize pension benefits for men and women could have implications for thousands of other corporate pension plans, resulting in billions in additional costs. The court on Friday ruled that the British bank’s pension trustee has to amend a defined-benefit pension plan to retroactively increase payouts to address a dispute filed in 2016 by female claimants who pointed out that their pensions were increasing at a lower rate than those of their male counterparts. “The good news is that the issue has been resolved,” Mr. Scholefield said.
Judge Paul Morgan in London ruled that the trustee of the pension plan had a duty to amend the terms of the plan, saying that the issue has created uncertainties “for many years.” While the BTU union had initially estimated that the cost could top 500 million pounds ($640 million), after the ruling both the union and the bank put that figure at closer to 100 million pounds. Three female members of the pension plan had claimed they were discriminated against because their retirement payments increase at a lower rate than male colleagues. “The essential questions raised by this claim are likely to be the same for the very many contracted-out defined benefit occupational pension schemes that provide guaranteed minimum pensions,” Morgan said in a ruling Friday.
A disputes tribunal underpinned by new regulation is needed to protect small companies after their "scandalous" treatment by banks, a panel of British lawmakers said on Friday. Lawmakers said they want to apply lessons from the experience of businesses who suffered "untold misery" in their dealings with RBS' Global Restructuring Group in the aftermath of the financial crisis. In a 64-page report on SME Finance, parliament's Treasury Select Committee said a Financial Services Tribunal should be set up to hear complex disputes between small firms and their banks.