February 20, 2018 / 8:35 PM / 6 months ago

Lloyds to unveil one billion pound share buyback plan - Sky News

(Reuters) - Lloyds Banking Group Plc (LLOY.L) will unveil a 1 billion pound share buyback plan with its annual results on Wednesday, Sky News reported. bit.ly/2EGU10g

A man enters a Lloyds Bank branch in central London, Britain February 25, 2016. REUTERS/Paul Hackett

Lloyds declined to comment on the report.

A buyback would chime in with the expectations of investors, who are also anticipating news from the British bank of a three-year plan centred on digital investment and growing its insurance and wealth businesses.

Lloyds, Britain’s biggest mortgage lender, reported its highest full-year profit since 2006 last year.

Bailed out nine years ago in a 20 billion pound rescue during the financial crisis, it returned to full private ownership in May with the sale of the last of the government’s stake.

Reporting by Ismail Shakil in Bengaluru and Emma Rumney in London; editing by John Stonestreet

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