Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 55.90
Bid: 55.88
Ask: 55.92
Change: -0.30 (-0.53%)
Spread: 0.04 (0.072%)
Open: 55.98
High: 56.06
Low: 55.82
Prev. Close: 56.20
LLOY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Lloyds CEO calls for greater banking choice for small businesses

Tue, 10th Feb 2015 12:45

* Lloyds CEO says should be easier for firms to switch banks

* Lloyds to contribute 5 mln stg to industry fund

LONDON, Feb 10 (Reuters) - The head of Lloyds Banking Group has called for greater competition in providing bankingservices to small firms, including making it easier to switchaccounts.

Britain's competition watchdog is investigating servicesprovided by banks to small businesses as part of a widerinvestigation into an industry dominated by four big players.

Lloyds Chief Executive Antonio Horta-Osorio proposedmeasures including making it easier to switch between lenders byimproving price comparison websites and using technology tooffer more effective services for small businesses.

"We need to take further steps to enhance the banking systemso that it properly serves the economy, and not the other wayaround," Horta-Osorio said in a speech at the British Chambersof Commerce's annual conference on Tuesday.

"Competition in banking is crucial to ensure Britain'sbusinesses and consumers have proper access and choice regardingthe financial services they want, and need," he added.

Britain's biggest four banks -- Lloyds, Royal Bank ofScotland, Barclays and HSBC -- controlover three quarters of current accounts and provide nine out of10 business loans.

Some lawmakers blame a lack of choice for scandals that havebeset the industry in recent years including shoddy treatment ofsmall businesses in financial difficulty and the mis-selling ofloan insurance and complex hedging products.

"There is more that we can do as an industry, working withthe regulators to improve the ease of switching and productcomparability," Horta-Osorio said, adding that Lloyds wouldcontribute 5 million pounds ($7.6 million) to an industry fundworking on the issue.

The investigation by the Competition and Markets Authoritycould recommend Britain's biggest banks be broken up if themarket is found to be anti-competitive.

Lloyds is Britain's biggest provider of personal currentaccounts and second biggest provider of banking services tosmall businesses.

($1 = 0.6575 pounds) (Reporting by Matt Scuffham; Editing by Keith Weir)

More News
3 Nov 2023 08:43

LONDON MARKET OPEN: FTSE 100 climbs as focus turns to US nonfarms

(Alliance News) - Stock prices in London opened on the up on Friday, looking set to round off a positive week on the up, though a red-hot US jobs report could keep a lid on gains.

Read more
27 Oct 2023 21:11

EXECUTIVE CHANGES: Anglesey Mining chair ousted, Strix CFO to retire

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and Friday and not separately reported by Alliance News:

Read more
27 Oct 2023 17:08

LONDON MARKET CLOSE: Poorly-received earnings weigh on European stocks

(Alliance News) - Stock prices in London closed mixed on Friday, hurt by share price falls for the banking sector, while investors also digested underwhelming earnings elsewhere and a US inflationary reading.

Read more
27 Oct 2023 12:06

LONDON MARKET MIDDAY: Oil majors lift FTSE 100 but banks fall

(Alliance News) - Stock prices in London were up at midday on Friday, as the FTSE 100 was led higher by oil majors, tracking a rise in the Brent price.

Read more
27 Oct 2023 11:04

UAE lender to support Barclays family with £1bn bid for Telegraph - report

(Sharecast News) - First Abu Dhabi Bank, the largest bank in the United Arab Emirates, is rumoured to be the backer of the Barclays family's £1bn bid for The Telegraph.

Read more
27 Oct 2023 09:12

LONDON MARKET OPEN: NatWest trims outlook and admits Farage "failings"

(Alliance News) - London's FTSE 100 opened slightly lower on Friday, as banking stocks weighed on the index, with NatWest the worst of the lot after admitting to "serious failings" following a review of the controversial closure of UK politician Nigel Farage's Coutts account.

Read more
26 Oct 2023 11:44

Berenberg stays at 'hold' on Lloyds Banking

(Sharecast News) - Analysts at Berenberg reiterated their 'hold' rating and 58.0p target price on financial services giant Lloyds Banking Group on Thursday, stating it still sees better opportunities elsewhere.

Read more
26 Oct 2023 09:24

LONDON BROKER RATINGS: HSBC cuts Reckitt to 'hold' from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more
26 Oct 2023 07:51

LONDON BRIEFING: PizzaExpress owner makes play for Restaurant Group

(Alliance News) - The FTSE 100 is set to open lower on Thursday, as investors nervously look ahead to a key interest rate decision from the European Central Bank, and US economic growth data.

Read more
25 Oct 2023 17:07

LONDON MARKET CLOSE: FTSE 100 fights off early losses in mixed trading

(Alliance News) - Stock prices in London closed mixed on Wednesday, as concerns over monetary policy and developments in the Middle East lingered.

Read more
25 Oct 2023 15:11

London close: Stocks end choppy session mixed

(Sharecast News) - London's stock markets closed with a mixed performance on Wednesday, as investors weighed a number of factors.

Read more
25 Oct 2023 09:10

LONDON MARKET OPEN: Essentra falls as profit hit; banks edge lower

(Alliance News) - Stock prices in London opened lower on Wednesday, as investors digest the latest company earnings.

Read more
25 Oct 2023 08:39

TOP NEWS: Lloyds Banking profit up and sticks with margin outlook

(Alliance News) - Lloyds Banking Group PLC on Wednesday maintained its annual net interest margin guidance and reported consensus-topping third-quarter profit, though top-line growth fell just shy of loftier expectations.

Read more
25 Oct 2023 07:49

LONDON BRIEFING: Reckitt begins USD1 billion buyback; Lloyds profit up

(Alliance News) - Stocks in London are expected to tread water on Wednesday, despite a strong performance in the US and Asia.

Read more
25 Oct 2023 07:01

Lloyds Bank Q3 profits surge despite lower lending

(Sharecast News) - Lloyds Bank reported a massive jump in third quarter profits as it continued to cash in on higher interest rates, despite a reduction in lending to customers amid tough macroeconomic conditions.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.