In my time I had 5 personal lending managers,and they all relied upon credit scoring,and flogging as many PPIs as possible,,',,,,,,,no real lending skills whatsoever.....on the Business side credit scoring was just coming in and the 3 lenders on this side were generally more skilful and once they had passed Accountsncy in Part 2 IOB they could at the very least read a balance sheet and interpret accordingl.I also worked from time to time in a Regional Office looking at big ticket propositions..".....it was amazing at some of the very marginal propositions sent forward
Apart from you everyone seems to be side stepping what you agree is important. I had rather hoped that TSB might start filling the gap. Not sure with the Spanish takeover. There are new players like Aldermore and Metro but where are the clued up professional lenders like there used to be. This is vital to the British economy and people wanting to expand small business. When I was a branch manager we made a real difference. A local accountant said I was the first manager to actually go and visit the businesses. Bank lending for business has been stagnant for some time. Not just Lloyds. Bar lays I believe is not TOO bad, RBS shambolic, HSBC scandal ridden at present, Standard Chartered possibly just turning the corner. But there is no substitute whatsoever for expertise. The banks have thrown away years of work and learning and wasted shed loads of dosh on dodgy PPI, Credit swaps, a disgrace etc etc
You haven't been aware of my activities have you, these last several months? I am a long termer (have been for many mnay years) and I am also a day trader. I buy and sell around the 50k mark on a weekly basis old boy. 1p is a lot of money to me :), although I prefer to act on a 2.3p movement to be precise for my troubles by the time commission and stamp duty kicks in.
If you think that it is a good long term punt then why are agonising over a miserable fraction of a penny as to whether or not to "get back in" 1 penny on 10000 nominal is 100 quid geez. as for what the bank will do going forward well just being a bank is good enough given the assets they still have and the businesses earmarked for growth as AHO laid out at the results meeting. Osborne our light weight Chancellor will sooner or later have to come to terms that the banks are all has left to pay the bills in this country so his purple bank bashing will have to stop at some point. Furthermore he of all people is by now well aware that the reason why the economy is showing any growth is simply because the banks have been forced to puke up on spurious PPI claim after another. as i have said before more than once Lloy is now in great shape despite the best efforts of the incompetent Chancellor and the buffoons comprising the Regulator. Soon they will be off our backs - happy days
Hello Wayne_130. Yes I see that I did previously post I was an ex lloyds employee. I believe I did that incase eyes where watching call me paranoid. I currently been with the back for approx 10 yrs so potentially a decent payout if it comes to it.
FTSE retracing still - but this time so is LLOY. Good news methinks. Now if she can settle around the low 79 ers, I'm in again. Overall - I agree with the latest posters - future looks good for LLOY especially after this home start leg up from Cameroon! 25% towards first house buyers will add to LLOY's profits.
Hi Bruce, That is a fantastic question about where the expertise is within Lloyds for Lending to small businesses and complicated cases. As a 25+ year employee myself, waiting for my redundancy payout next month, I have regularly asked that question over the last 10. The conclusion I reached is that the Bank doesn't give a hoot. Lloyds is big enough to turn away loads of business and just rely on it's excellent digital platform and Credit scoring systems to not have to worry about the complicated stuff. With a natural increase in demand as the UK moves into growth, this will enable Lloyds to lend more, shut loads of branches, lay off thousands of staff and hugely increase profits. Which bodes fantastically well for the SP for the next 5 years. I just wouldn't be so sure about where it will be in 10....
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