IMO: 1. AHO did not state that Brexit would cause future problems - he sensibly indicated that this outcome could not be excluded. 2. AHO indicated that despite Brexit uncertainty he believed UK to be in a strong position to challenge obstacles. 3. AHO reinforced his belief that the bank was strong and in a position to deliver future benefits to customers and SH.
Of course our reliable press have cherry picked his words for media grab bites - the loss of jobs has nil to do with Brexit (that I consider a sensible decision) despite BBC (? Sky) headlines. This suits the shorter and those with their nose still out of joint from backing the wrong horse (I guess a significant collective of The City).
4. I empathise with long term holders who are behind and out of patience, however it was your choice not to bail at 89p or (particularly) pre brexit in what was obviously close to a 50/50 bet with minimal upside (with published LLOY results to date at the tme) and plenty of downside.
5. Today's after tax statutory results for the half year (1,857 million) are almost double the equivalent for the whole of last year (925 M +31 M). I would expect the next half to be better (ECN will be gone for starters). In my opinion that leaves a lot of potential for next half distributions and remember, they have just engaged and M&A guy - what might they have in mind.
If you just entered for a quick quid - them's the breaks. As a long term hold I think its great. Just my opinion.
The problem for high street banks is the good businesses are now going to challenger banks and crowdfunding while the established deposit banks are subject to all the negative macro interference cause by governments trying to balance their budgets without actually relying on the fundamentals of wealth creation and the banks are now out of the new businesses business.
Who TF is holding this back? Sooner or later this stallion will turn into a unicorn and fly. I have a feeling the the gates on this race are going to open very soon. Nice results. Positivity in abundance just the mm's need to let it go and let the GBritish banking race begin. Buy now IMHO. Topped up the pot
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