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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

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Share Price: 53.90
Bid: 53.88
Ask: 53.90
Change: -0.04 (-0.07%)
Spread: 0.02 (0.037%)
Open: 54.16
High: 54.34
Low: 53.70
Prev. Close: 53.94
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Britain's finance minister Hunt to quiz bank bosses on UK lending

Thu, 18th Jan 2024 14:33

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

HSBC, Barclays, Lloyds Banking Group , NatWest Group and Santander UK are expected to take part in the meeting, Sky News reported earlier.

"They meet regularly and discuss lots of issues - as you'd expect," one of the sources told Reuters.

"They're fairly relaxed and unstructured meetings."

NatWest, Santander and Barclays declined to comment, while HSBC and Lloyds did not immediately respond to Reuters' request for comment.

In a bid to bolster London's competitiveness as a global financial centre post-Brexit, the Treasury has set out a series of reforms and is regularly meeting with members of the financial industry to gauge effectiveness of those plans, one source with direct knowledge told Reuters.

Sky News said the meeting will also include the London Stock Exchange as it battles against New York to attract company listings. LSEG did not immediately respond to a Reuters request for comment.

Further reforms to boost investment are expected from Hunt when he presents his budget in March, and the government typically sounds out market participants ahead of such events.

Sky said Tuesday's meeting would discuss concerns over the valuations of some banks, which have seen their share prices retreat in recent months.

Barclays shares, for example, have lost around 22% in value in the last 12 months, compared with a 8.5% drop in the FTSE 350 banking index and a 4% decline in the FTSE 100.

Two industry sources played down the idea that the drop in UK bank share prices had motivated the Chancellor to convene the meeting, or that this had had a direct bearing on banks' appetite to lend into Britain's economy.

One of those sources rejected any suggestion banks were failing to meet demand to borrow due to weakened share prices.

But lower share prices do have implications for shareholder returns, analysts have pointed out, meaning bank bosses could be tempted to channel greater proportions of capital into investor payouts or stock buybacks rather than loans or mortgages.

The Bank of England has repeatedly said that Britain's banks were capitalised well enough to keep lending to households and businesses. (Reporting by Andrew MacAskill, Sinead Cruise, Elizabeth Piper and Huw Jones. Editing by Jane Merriman)

More News
Today 15:49

UK shareholder meetings calendar - next 7 days

Friday 10 May 
Cairn Homes PLCAGM
Derwent London PLCAGM
Diversified Energy Co PLCAGM
Hutchmed China LtdAGM
Irish Residential Properties REIT PLCAGM
Kenmare Resources PLCAGM
Rightmove PLCAGM
Serinus Energy PLCAGM
Standard Chartered PLCAGM
Wheaton Precious Metals CorpAGM
Monday 13 May 
88 Energy LtdAGM
888 Holdings PLCAGM
hVIVO PLCAGM
Kore Potash PLCAGM
Tuesday 14 May 
Aptitude Software Group PLCAGM
Chesnara PLCAGM
Cirata PLCAGM
Computacenter PLCAGM
EKF Diagnostics Holdings PLCAGM
FDM Group PLCAGM
Henderson High Income Trust PLCAGM
Kakuzi LtdAGM
Luceco PLCAGM
Midwich Group PLCAGM
Phoenix Group Holdings PLCAGM
TI Fluid Systems PLCAGM
Wednesday 15 May 
Accrol Group Holdings PLCGM re takeover by Navigator Paper
Aura Renewable Acquisitions PLCAGM
Barratt Developments PLCGM re takeover of Redrow PLC
Bridgepoint Group PLCAGM
Burford Capital LtdAGM
Conduit Holdings LtdAGM
Funding Circle Holdings PLCAGM
Gama Aviation PLCGM re tender offer
GCP Asset Backed Income Fund LtdAGM
Greggs PLCAGM
IQGeo Group PLCAGM
Literacy Capital PLCAGM
Marshalls PLCAGM
Mpac Group PLCAGM
Redrow PLCGM re takeover by Barratt Developments PLC
Renewables Infrastructure Group LtdAGM
Savills PLCAGM
Seneca Growth Capital VCT PLCAGM
Spirax-Sarco Engineering PLCAGM
St James's Place PLCAGM
TP ICAP Group PLCAGM
Vesuvius PLCAGM
Thursday 16 May 
Ceres Power Holdings PLCAGM
ConvaTec Group PLCAGM
Costain Group PLCAGM
Eurocell PLCAGM
Global Opportunities Trust PLCAGM
Gresham Technologies PLCGM re takeover by STG Partners funds
H&T Group PLCAGM
Ibstock PLCAGM
Just Eat Takeaway.com NVAGM
Lloyds Banking Group PLCAGM
M&C Saatchi PLCAGM
Michelmersh Brick Holdings PLCAGM
Next PLCAGM
Predator Oil & Gas Holdings PLCAGM
PYX Resources LtdAGM
Restore PLCAGM
RTW Biotech Opportunities LtdAGM
Secure Trust Bank PLCAGM
Seplat Energy PLCAGM
Triple Point Social Housing REIT PLCAGM
Tyman PLCAGM
Unite Group PLCAGM
Vector Capital PLCAGM
Vistry PLCAGM
WAG Payment Solutions PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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