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Lloyds Banking Group PLC (LYG.N)

LYG.N on New York Stock Exchange

3.39USD
21 Feb 2017
Change (% chg)

$0.03 (+0.89%)
Prev Close
$3.36
Open
$3.39
Day's High
$3.40
Day's Low
$3.36
Volume
846,411
Avg. Vol
871,093
52-wk High
$4.41
52-wk Low
$2.47

Latest Key Developments (Source: Significant Developments)

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

Lloyds Banking Group PLC - UK watchdog looks at alleged bond market rigging at Lloyds bank -source - Reuters
Thursday, 7 Jan 2016 12:33am EST 

Lloyds Banking Group PLC:Britain's Financial Conduct Authority has begun a preliminary investigation into whether a trader at Lloyds Banking Group tried to manipulate the market for UK government bonds, a source familiar with the matter said. - RTRS.Spokespeople at Lloyds, still 9 percent-owned by the British taxpayer, declined to answer questions on whether there was a probe or on the number of staff linked to any such investigation. - RTRS.News of the probe comes as a blow to Britain's biggest provider of current accounts and mortgages, which has invested millions of pounds in rebuilding its reputation among customers since its 20.5 billion pound ($29.9 bln) bailout in 2008 - RTRS.It also casts a pall over final preparations by Britain's finance ministry to sell its remaining stake via a widely anticipated share offer to the general public this year. - RTRS.The government said in October it would sell at least 2 billion pounds of Lloyds shares to private retail investors in one of the largest privatisations of a state-backed company since the 1980s. - RTRS.The Wall Street Journal first reported the investigation into possible gilts market manipulation on Wednesday. - RTRS.  Full Article

More From Around the Web

CORRECTED-British government cuts stake in Lloyds to below 4 percent

LONDON, Feb 23 The British government said on Thursday it has further reduced its stake in Lloyds Banking Group, a day after the bank posted its highest profit since before the 2007-2009 global financial crisis.