AllAnalyst Report
logoMorningstarSeptember 30, 2022

Lloyds Banking Group plc: Lloyds a U.K. Pure-Play Bank

Financial Services
Current Price
Fair Value
Economic Moat

Lloyds is a retail and commercial bank headquartered in the United Kingdom. The bank operates via three business segments: retail, commercial banking, and insurance and wealth. In retail, Lloyds offers primarily mortgages (66% of loan portfolio), credit cards, and current accounts to its customers. Its commercial banking operation provides lending, transaction banking, working capital management, and debt capital market services to large corporates and financial institutions in the U.K. Insurance and wealth rounds out the product lineup with life and property insurance as well as pension solutions and high-net-worth asset-management services.

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Analyst Profile

Niklas Kammer

Equity Analyst
Niklas Kammer is an equity analyst for Morningstar Holland BV, a wholly owned subsidiary of Morningstar, Inc. He covers European banks.Before joining Morningstar in 2016, Kammer interned on the equity research team at Rabobank Netherlands and in the corporate finance department at Kempen & Co.Kammer holds a master’s degree in finance and investments from the Rotterdam School of Management. He passed Level III in the Chartered Financial Analyst® program.