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Lloyds Banking Group PLC (LLOY.L)

LLOY.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Britain's FCA sets deadline for new PPI complaints to Aug 29, 2019
Thursday, 2 Mar 2017 02:08am EST 

: Financial Conduct Authority has today confirmed that it will introduce a deadline for making new payment protection insurance (PPI) complaints. . FCA- final deadline for making a new PPI complaint will be 29 August 2019 . FCA has also made final rules and guidance related to how firms should handle complaints in light of supreme court judgment in Plevin v Paragon Personal Finance .FCA says Plevin decision means that consumers may have new grounds to complain about PPI.  Full Article

Lloyds raises 2016 bonuses
Wednesday, 22 Feb 2017 02:10am EST 

Lloyds Banking Group Plc : Total bonus outcome has increased year-on-year to 392.9 million pounds (from 353.7 million pounds in 2015). . Total bonus outcome for 2016 includes a 19 per cent collective performance adjustment applied to group's total bonus outcome (2015: 26 per cent), percent . At 4.8 per cent of pre-bonus underlying profit, bonus outcome remains significantly less than group's funding limit of 10 per cent of pre- bonus underlying profit . Cash bonuses remain capped at 2,000 pounds with additional amounts paid in shares and subject to deferral and performance adjustment. . Ceo Osorio awarded 956,416 shares as part of 2016 bonus award .Ceo Osorio to receive salary of 1,220,000 pounds in 2017.  Full Article

Lloyds Banking Group 2016 statutory profit before tax 4.2 billion stg
Wednesday, 22 Feb 2017 02:06am EST 

Lloyds Banking Group Plc : Lloyds banking group full year underlying profit 7.9 billion stg . Lloyds banking group cet1 ratio at 13.8 percent . Lloyds banking group statutory profit before tax 4.2 billion stg . Lloyds banking group net interest margin 2.71 percent . Lloyds banking group ordinary dividend 2.55 pence . Lloyds banking group total income 17.5 billion stg . Lloyds banking group special dividend 0.5 pence .Lloyds banking group cost income ratio 48.7 percent.  Full Article

Britain sells further 1 percent of Lloyds shares
Monday, 9 Jan 2017 02:07am EST 

Lloyds Banking Group Plc :UK government reduces stake in Lloyds Banking Group to 5.95 percent.  Full Article

Lloyds leading bidder to buy BOFA’s UK credit card business- FT, citing sources
Sunday, 20 Nov 2016 01:44pm EST 

: Lloyds leading bidder to buy BOFA's UK credit card business- FT, citing sources Source http://on.ft.com/2g7qagW ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Lloyds announces early results of tender offer for up to $2 bln U.S. notes
Thursday, 10 Nov 2016 07:01am EST 

Lloyds Banking Group Plc : Early tender results of maximum tender offer . Previously announced cash tender offer for a combined aggregate purchase price of up to $2,000,000,000 of certain series of outstanding U.S. dollar denominated notes .About $2,839,769,000 aggregate principal amount of maximum tender notes were validly tendered by 5 pm NY time on Nov 9.  Full Article

Lloyds warns capital generation may be lower in future years
Thursday, 28 Jul 2016 02:13am EDT 

Lloyds Banking Group Plc : Operating costs 3 per cent lower at £4.0 billion driven by acceleration of cost initiatives. Market-Leading cost:income ratio improved to 47.8 per cent . Outlook for UK economy is uncertain and, while precise impact is dependent upon a number of factors, including eu negotiations and political and economic events, a deceleration of growth seems likely . Impact on group of referendum is dependent on economic and political outcomes which remain uncertain, however we now expect to generate around 160 basis points of cet1 capital in 2016 pre dividend . It is possible that this capital generation may be somewhat lower in future years than previously guided . We expect clarity soon on fca consultation into a proposed time-bar for ppi complaints . In addition, we are targeting a c.30 per cent reduction in our non- branch property portfolio by end of 2018. . Underlying profit of £4.2 billion was 5 per cent lower than same period last year . In 2016 we now expect to generate around 160 basis points of cet1 capital pre dividend, due to impact of eu referendum . No further provision has been taken for ppi . Impaired loans at 30 june 2016 were £9.3 billion, 2.0 per cent of total loans . There was a charge of £460 million to cover a range of conduct issues of which £345 million was recognised in q2..  Full Article

Lloyds Banking Group says $629.8 million of notes tendered
Thursday, 23 Jun 2016 07:11am EDT 

Lloyds Banking Group Plc :$629.8 million in aggregate principal notes were validly tendered; accepted all notes that were validly tendered.  Full Article

Lloyds Banking Group says UK's court rules in favour of co in bond dispute case
Thursday, 16 Jun 2016 05:03am EDT 

Lloyds Banking Group Plc : Enhanced capital notes - Supreme Court decision . Court held that a Capital Disqualification Event (CDE), as defined in conditions of ECNS, has occurred .Supreme court has today handed down its decision in respect of interpretation of certain terms of Enhanced Capital Notes (ECNS)and found in group's favour.  Full Article

Lloyds Banking Group PLC to cut 1,755 jobs and close 29 branches - Guardian - Reuters
Wednesday, 3 Feb 2016 04:34am EST 

Lloyds Banking Group PLC:Lloyds Banking Group is cutting 1,755 jobs and closing 29 branches as part of a plan by its chief executive, António Horta-Osório, to cut costs as he prepares the bank for privatisation. - Guardian.Staff at Britain’s biggest retail bank were told about the job losses, which cover large parts of the group, on Wednesday, but union officials said they hoped that the reductions could be achieved by voluntary means - Guardian - Guardian.The posts that are being axed are part of the 9,000 job cuts announced by Horta-Osório in 2014, when he said that a need to “digitise” the business would also result in the closure of 200 branches - Guardian.According to officials at the Accord union, which has 23,000 members, about 60% of those cuts have now been announced - Guardian.Lloyds, which operates under a number of brands, will close 19 Lloyds, seven Bank of Scotland and three Halifax branches in June. The bank employs about 77,000 people and has more than 2,000 branches - Guardian.  Full Article

More From Around the Web

Lloyds appoints businessman to review HBOS fraud compensation claims

LONDON, March 20 Lloyds Banking Group on Monday said it appointed a businessman to review the cases of British companies which lost out in a 245 million pound ($304 million) fraud for which six people were jailed earlier this year.