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Going to 8100 today 👍
We see
I wouldn't hold your breath today, on the back of that RNS. 'Workmanlike' at best, sadly. 😮💨
Excellent news
''Lloyds took an impairment charge of just 57 million pounds in the quarter, against a 280 million pound analyst forecast, underlining the resilience of its borrowers and robust asset quality across its loan book.''
Profit before tax slightly above analysts expectations of 1.61b. Think the direction on the sp will be influenced by the wider markets.
Surely we going back to the swinging 60s now ?
LLOY is trading flat in the German premarket. Hovering between +1% and-1% at the open.
Lloyds Banking Group has posted a 28 per cent fall in profit – in line with analysts’ estimates – as price wars and the prospect of interest rate cuts starting this summer forced it to offer better rates to savers.
The group – which owns Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows – reported a pretax profit of £1.63bn for the first three months of 2024.
This figure is down from £1.78bn during the previous quarter and 28 per cent lower than the £2.26bn in the first quarter of 2023. A company-complied analyst consensus had expected a profit of £1.66bn.
https://www.cityam.com/lloyds-profits-drop-against-bumper-2023-as-margins-shrink/
Lloyds reaffirmed its full-year guidance with expectations including a NIM of greater than 290 basis points and operating costs of about £9.4 billion.
A CET1 ratio 13.9% – an important metric of bank liquidity – was ahead of the ongoing target of 13%.
Chief executive Charlie Nunn stated: "The group is continuing to deliver in line with expectations in the first quarter of 2024, with solid net income, cost discipline and strong asset quality.
“Our performance provides us with further confidence around our strategic ambitions and 2024 and 2026 guidance."
Business confidence rose above its pre-pandemic average for the first time in two years, a new survey shows, but levels of investment remained subdued in a sign that the recovery remains “brittle”.
Business confidence tripled to 14.4 in the first quarter of 2024, up from just 4.2 in the final quarter of last year, according to the Institute of Chartered Accountants in England and Wales (ICAEW).
https://www.cityam.com/business-confidence-surges-in-early-2024-but-recovery-remains-brittle-survey-suggests/
LONDON, April 24 (Reuters) - Lloyds Banking Group (LLOY.L), opens new tab reported a 28% fall in first quarter pretax profit on Wednesday, in line with analyst expectations, as rising costs, peaking interest rates and intensifying competition in the mortgage market hurt income.
Britain's largest mortgage lender reported Q1 pretax profit of 1.6 billion pounds ($1.99 billion), down from 2.3 billion pounds a year ago.
https://www.reuters.com/business/finance/britains-lloyds-bank-says-q1-profit-falls-28-2024-04-24/
Bloomberg has saying its a Beat
'fiasco'
farce - re possible rebates
To pay down to a CET1 ratio of c.13.5 per cent
£15.8 Billion out in car finance loans - I bet the interest payable is higher than
in the car 'fiasco' period
Lloyds SP is still floundering around 50 p and has been struggling the last week -long term performance is very poor over 10 Years or more .Lloyds has deservedly gained a reputation for being an absolute dog of an investment .Let's hope this can move solidly north .
Brix
you are a one trick pony - extremely tedious boring ZZZZZZZZzzzzzzzzz
why don't you pollute the Metro board instead
Now currently due to open at a new all time high
Underlying profits of £1.814 Billion pre tax/impairments
"The Group recognised remediation costs of £25 million in the first three months (three months to 31 March 2023: £19 million), in relation to pre-existing programmes. There have been no further charges relating to the potential impact of the FCA review into historical motor finance commission arrangements, with the FCA having indicated it will update in September."
Down from 1.6 Billion post tax for same period in 2023
Profit at £1.2 Billion after tax
Lets hope they tip rocket fuel on this to day if only to catapult us away from the nutters that post here otherwise we will be stuck with them
Just like when you send someone an email they don't want to reply to you get an automated response ......."I am currently out of the office and unable to reply"
Falky's automated response to questions he can't answer is............"please read the thread before asking the questions. Thanks"
🤭
To have had two years in succession (2022 and 2023) purchasing well in excess of 4 Billion shares in each of those years, it would be incredible to have a third year this year above 4 Billion bought back ,even if it was only by a single share, but the odds of that are not good at this point in time, unless of course results for whatever reason are dreadful,or the market crashes.
A reset in expectations/hope of further programmes should be one of percentages rather than a number. With this in mind, being able to purchase and cancel 5% of those number of shares in issue at the start of a programme would be a good outcome. This assumes of course the same level of spend (£2 Billion)