Klom. I agree there is an overhang of residual bad news that will still take a bit of further time to clear. But it is no longer very big stuff. The market is misssing the ability to cut costs - which is what will buoy this stock. Branches, cheques and cash are all on their way out. It will massively simplify LBG's operations. They will need to spend money to further sort out antiquated IT systems but much of that will be capitalised.
Remarkably of its 75,000 staff LBG employs c30,000 in 'central operations'. What do they all do?
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