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United Kingdom

Lloyds Banking Group PLC (LLOY.L)

LLOY.L on London Stock Exchange

52.70GBp
14 Dec 2018
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163,541,705
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Latest Key Developments (Source: Significant Developments)

Lloyds Banking Group Says It Passed Bank Of England's 2018 Stress Test
Wednesday, 28 Nov 2018 

Nov 28 (Reuters) - Lloyds Banking Group PLC ::LLOYDS BANKING GROUP - BANK OF ENGLAND 2018 STRESS TEST PASSED.LLOYDS BANKING GROUP PLC - PASSES BANK OF ENGLAND 2018 STRESS TEST.LLOYDS BANKING GROUP PLC - GROUP EXCEEDS CAPITAL AND LEVERAGE HURDLES AFTER APPLICATION OF MANAGEMENT ACTIONS..LLOYDS BANKING GROUP PLC - GIVEN THIS PERFORMANCE, GROUP IS NOT REQUIRED TO TAKE ANY CAPITAL ACTIONS AND ALL CAPITAL GUIDANCE IS REAFFIRMED.LLOYDS BANKING GROUP PLC - GROUP'S CAPITAL POSITION REMAINS STRONG HAVING REPORTED A CET1 RATIO OF 14.6 PER CENT AND A LEVERAGE RATIO OF 5.3 PER CENT.LLOYDS BANKING GROUP - REAFFIRMED BOARD'S VIEW OF LEVEL OF CET1 REQUIRED, WHICH REMAINS CIRCA 13 PER CENT PLUS A MANAGEMENT BUFFER OF AROUND 1 PERCENT.LLOYDS BANKING GROUP PLC - CONTINUES TO EXPECT TO DELIVER CIRCA 200 BASIS POINTS FOR FULL YEAR.  Full Article

Lloyds Banking Group To Appoint Deloitte As External Auditor
Thursday, 22 Nov 2018 

Nov 22 (Reuters) - Lloyds Banking Group PLC ::LLOYDS BANKING GROUP - PROPOSAL TO APPOINT DELOITTE AS EXTERNAL AUDITOR.LLOYDS BANKING GROUP PLC - APPOINTMENT OF DELOITTE LLP (DELOITTE) WILL BE RECOMMENDED TO SHAREHOLDERS FOR APPROVAL AT 2021 ANNUAL GENERAL MEETING.LLOYDS BANKING GROUP PLC - PRICEWATERHOUSECOOPERS LLP WILL CONTINUE TO AUDIT LLOYDS UNTIL YEAR ENDING 31 DECEMBER 2020.  Full Article

Lloyds Banking Group Enters Into Strategic Partnership With Thought Machine
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Lloyds Banking Group PLC ::LLOYDS BANKING GROUP ENTERS INTO STRATEGIC PARTNERSHIP WITH THOUGHT MACHINE.PARTNERSHIP WITH THOUGHT MACHINE IN LINE WITH LLOYDS' STRATEGIC REVIEW, ANNOUNCED EARLIER THIS YEAR.LLOYDS HAS MADE AN £11 MILLION INVESTMENT IN THOUGHT MACHINE, REPRESENTING A 10 PER CENT STAKE.  Full Article

Lloyds Banking Group Group Continues To Expect To Deliver C.200 Basis Points Of Capital Build, Pre Dividend, In 2018
Thursday, 25 Oct 2018 

Lloyds Banking Group PLC ::CEO SAYS THESE RESULTS FURTHER DEMONSTRATE STRENGTH OF OUR BUSINESS MODEL AND BENEFITS OF OUR LOW RISK, CUSTOMER FOCUSED APPROACH.NET INCOME AT £13.4 BILLION, 2 PER CENT HIGHER,.CEO SAYS OUR STRATEGIC INVESTMENT HAS ACCELERATED AND IS ALREADY DELIVERING REAL BENEFITS TO CUSTOMERS WHILST OPERATING COSTS CONTINUE TO REDUCE.CEO SAYS WE REMAIN ON TRACK TO DELIVER IMPROVED FINANCIAL TARGETS FOR 2018 THAT WE ANNOUNCED IN AUGUST, AS WELL AS ALL OF OUR LONGER TERM GUIDANCE.OPERATING COSTS AT £6,014 MILLION WERE SLIGHTLY DOWN ON FIRST NINE MONTHS OF 2017.RESTRUCTURING COSTS WERE £612 MILLION, WITH £235 MILLION IN Q3..CREDIT QUALITY ACROSS PORTFOLIO REMAINS STRONG WITH NO DETERIORATION IN CREDIT RISK.GROUP CONTINUES TO EXPECT TO DELIVER C.200 BASIS POINTS OF CAPITAL BUILD, PRE DIVIDEND, IN 2018.  Full Article

Lloyds Banking Group Chief Financial Officer George Culmer to retire
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Lloyds Banking Group PLC ::LLOYDS BANKING GROUP ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER, GEORGE CULMER.LLOYDS BANKING GROUP TODAY ANNOUNCES THAT ITS CHIEF FINANCIAL OFFICER, GEORGE CULMER, PLANS TO RETIRE FROM GROUP DURING Q3 2019..A SEARCH FOR A SUITABLE SUCCESSOR HAS COMMENCED. IT IS ENVISAGED THAT GEORGE WILL RETIRE AFTER H1 RESULTS IN 2019..  Full Article

Lloyds Banking Group Reports Q3 net profit at 1.8 bln stg
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Lloyds Banking Group PLC ::LLOYDS BANKING GROUP REPORTS Q3 NET PROFIT BEFORE TAX 1.8 BILLION STG.LLOYDS BANKING GROUP REPORTS PROFIT BEFORE TAX OF 4.9 BILLION STG FOR FIRST NINE MONTHS.LLOYDS BANKING GROUP REPORTS Q3 CET1 RATIO AT 15.5 PERCENT, PRE DIVIDEND ACCRUAL.LLOYDS BANKING GROUP REPORTS Q3 NET INTEREST MARGIN AT 2.93 PERCENT.LLOYDS BANKING GROUP REPORTS NO FRESH PPI PROVISION IN Q3.LLOYDS BANKING GROUP REPORTS Q3 ASSET QUALITY RATIO AT 22 BASIS POINTS.LLOYDS BANKING GROUP REPORTS Q3 COST INCOME RATIO AT 47.5 PERCENT.LLOYDS BANKING GROUP REAFFIRMS ALL GUIDANCE FOR 2018 PERFORMANCE.  Full Article

Schroders & Lloyds Announce Strategic Partnership
Tuesday, 23 Oct 2018 

Oct 23 (Reuters) - Lloyds Banking Group PLC ::SCHRODERS & LLOYDS ANNOUNCE STRATEGIC PARTNERSHIP.SCHRODERS AND LLOYDS ANNOUNCE WEALTH MANAGEMENT STRATEGIC PARTNERSHIP AND AGREEMENT TO MANAGE £80BN OF SCOTTISH WIDOWS AND LLOYDS ASSETS.CO, LLOYDS BANKING GROUP ANNOUNCE THAT THEY ARE ENTERING STRATEGIC PARTNERSHIP TO CREATE WEALTH MANAGEMENT PROPOSITION.LLOYDS AND SCHRODERS WILL ESTABLISH A NEW FINANCIAL PLANNING JOINT VENTURE COMPANY ('JV') FOR AFFLUENT CUSTOMERS.LLOYDS WILL OWN 50.1% OF SHARE CAPITAL AND SCHRODERS REMAINING 49.9% IN NEW JV.LLOYDS WILL TRANSFER APPROXIMATELY £13 BILLION OF ASSETS AND ASSOCIATED ADVISERS FROM ITS EXISTING WEALTH MANAGEMENT BUSINESS TO THE JV.JV WITH LLOYDS AIMS TO COMMENCE ACTIVITIES BY END OF H1 2019 & TO BE LED BY A MANAGEMENT TEAM COMPRISING REPRESENTATIVES FROM BOTH PARTNERS.ANTONIO LORENZO, CHIEF EXECUTIVE OF SCOTTISH WIDOWS AND GROUP DIRECTOR OF INSURANCE & WEALTH WILL BE CHAIRMAN OF JV.JAMES RAINBOW, SCHRODERS' CO-HEAD OF UK INTERMEDIARY, WILL BE CHIEF EXECUTIVE OF JV.LLOYDS WILL RECEIVE UP TO A 19.9% FINANCIAL INVESTMENT IN HOLDING COMPANY OF SCHRODERS' UK WEALTH MANAGEMENT BUSINESS.LLOYDS TO TRANSFER ABOUT £400 MILLION OF EXISTING PRIVATE CLIENT ASSETS UNDER MANAGEMENT TO SCHRODERS' UK WEALTH MANAGEMENT BUSINESS.LLOYDS REMAINS CONFIDENT IN RIGHTS TO TERMINATE CURRENT ASSET MANAGEMENT AGREEMENTS; EXPECTS ARBITRATION PROCESS TO CONCLUDE EARLY NEXT YR.  Full Article

Lloyds Banking Group Is To Inject Its 13 Billion Stg Wealth Management Arm Into A New Joint Venture With Schroders - Sky News
Sunday, 7 Oct 2018 

Oct 7 (Reuters) - :LLOYDS BANKING GROUP IS TO INJECT ITS 13 BILLION STG WEALTH MANAGEMENT ARM INTO A NEW JOINT VENTURE WITH SCHRODERS - SKY NEWS.THE DEAL WILL SEE LLOYDS OWNING 50.1%‎ OF THE NEW JV, WITH SCHRODERS OWNING THE REST - SKY NEWS.DEAL IS A THREE-PRONGED TIE-UP BETWEEN THE COS, WITH SCHRODERS TAKING ON A 109 BILLION STG INVESTMENT MANAGEMENT CONTRACT FROM LLOYDS-OWNED SCOOTTISH WIDOWS- SKY NEWS.THIRD LEG OF THE LLOYDS-SCHRODERS TIE-UP INVOLVES CAZENOVE CAPITAL- SKY NEWS.LLOYDS WOULD ACQUIRE A 19.9% STAKE IN THE DIVISION AS PART OF OVERALL AGREEMENT, CAZENOVE CAPITAL WOULD NOT BE DIRECTLY INVOLVED IN THE NEW JV- SKY NEWS.  Full Article

Schroders Says It Is In Discussions With Lloyds Banking Group PLC With A View To Working Closely Together In Parts Of The Wealth Sector - Spokesperson
Sunday, 7 Oct 2018 

Oct 7 (Reuters) - :SCHRODERS SAYS IT IS IN DISCUSSIONS WITH LLOYDS BANKING GROUP PLC WITH A VIEW TO WORKING CLOSELY TOGETHER IN PARTS OF THE WEALTH SECTOR - SPOKESPERSON.  Full Article

UK's Competition Watchdog Issues Lloyds With Legal Directions For PPI Breaches
Thursday, 4 Oct 2018 

Oct 4 (Reuters) - Competition and Markets Authority::UK'S CMA- LLOYDS ISSUED WITH LEGAL DIRECTIONS FOR PPI BREACHES.UK'S CMA - DECIDED TO ACT AGAINST LLOYDS AFTER IT PROBLEMS MEANT ABOUT 14,000 OF ITS CUSTOMERS DID NOT RECEIVE A REMINDER BETWEEN 2012 AND 2018.UK'S CMA- REQUIRING LLOYDS TO PUT EFFECTIVE SYSTEMS AND PROCEDURES IN PLACE TO PREVENT PPI BREACH INCIDENTS FROM HAPPENING IN THE FUTURE.  Full Article

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Poor China data caps turbulent week for FTSE 100 as investors rush for exits

LONDON Weak economic data from China sent Britain's top stock index down on Friday as miners, consumer stocks and banks suffered from investors' mounting anxiety about the world's second-biggest economy.