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Share Price Information for Lloyds (LLOY)

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Share Price: 54.18
Bid: 54.40
Ask: 54.44
Change: 0.12 (0.22%)
Spread: 0.04 (0.074%)
Open: 53.96
High: 54.42
Low: 53.30
Prev. Close: 54.06
LLOY Live PriceLast checked at -

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Lloyds's mass branch sale to Co-op proves 'complex'

Thu, 22nd Mar 2012 15:35

Lloyds has said that it will update the market on the progress being made on its sale of hundreds of branches to The Co-operative Group (Co-op) in the second quarter due to the 'complex' nature of the deal.The European Commisson-mandated divestment of 632 retail and commercial branches, known as Project Verde, is continuing to make good progress, Lloyds said on Thursday, and key operational sites will join the Verde business to provide telephony, banking operations and mortgage centre support.While Lloyds's preference is still to offload Verde to Co-op, it will create around 500 new roles in the unit. When the bank chose Co-op as the preferred bidder back in December, it said that it aimed to agree on heads of terms by the end of the first quarter. However, the group admitted today that "given that this is a substantial business and a highly complex transaction," a further update will not come until next quarter.Alison Brittain, Group Director of Lloyd's Retail Division, said that today's addition of operational sites "represents the next step in building the Verde business following last year's branch network and management team announcement, and marks a significant milestone in building a fully operational challenger bank, well positioned for a successful future."These sites are in five UK locations - Gloucester, Livingston, Birmingham, Sunderland and Swansea - and around 1,400 colleagues in these locations will become part of the Verde business, joining around 5,000 branch staff. The bank is continuing to progress an initial public offering (IPO) of Verde as an alternative to a direct sale.The transfer of the business is expected to complete before the end of next year, in line with the EC-mandated timescale, the group said.Shares in Lloyds were down 1.83% at 35.21p before the close on Thursday.BC
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UK banks criticised by lawmakers for 'measly' savings rates

LONDON, July 3 (Reuters) - British banks faced fresh criticism on Monday for the savings rates they offer to cash-strapped customers, in the latest intervention by parliament's influential Treasury Select Committee.

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30 Jun 2023 13:09

British mortgage lenders now have options in place to ease interest rate pain -FCA

LONDON, June 30 (Reuters) - Banks and building societies in Britain now have options in place to offer to mortgage customers to ease the pain of rising interest rates, the Financial Conduct Authority (FCA) said on Friday.

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30 Jun 2023 12:39

British mortgage lenders can offer options to help ease interest rate pain -FCA

LONDON, June 30 (Reuters) - Banks and building societies in Britain can offer mortgage customers options to ease the pain of rising interest rates, the Financial Conduct Authority (FCA) said on Friday.

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30 Jun 2023 09:39

TOP NEWS: Barratt Developments sells over 600 homes to Lloyds Banking

(Alliance News) - Barratt Developments PLC on Friday said it will sell 604 homes to Citra Living Properties Ltd for GBP168.4 million in cash.

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30 Jun 2023 09:22

LONDON MARKET OPEN: Stocks rise amid strong US economic outlook

(Alliance News) - European markets opened higher on Friday, shaking off weak economic data from China and instead taking heart from stronger economic growth from the US.

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30 Jun 2023 08:22

UK's Barratt looks to boost revenue with $212.6 mln homes sale deal with Citra

June 30 (Reuters) - Barratt Developments on Friday said it had agreed to sell 604 homes to Lloyds' private rental subsidiary Citra Living for 168.4 million pounds ($212.57 million) in cash, as Britain's largest housebuilder looks to diversify revenue.

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30 Jun 2023 07:56

LONDON BRIEFING: Markets ponder strong US economy, slow China recovery

(Alliance News) - Stocks in London were called higher on Friday, as investors weighed conflicting economic data from the world's two largest economies.

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LONDON BROKER RATINGS: Exane cuts Ashtead; Investec likes De La Rue

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26 Jun 2023 17:39

UK banks face profit hit from rising threat of economic hard landing

(Alliance News) - JPMorgan on Monday warned that high street lenders, Lloyds Banking Group PLC, Barclays PLC and NatWest Group PLC, face a profit squeeze in the event of a hard-landing for the UK economy.

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26 Jun 2023 16:28

UK finance minister Hunt says banks are slow to pass on rate hikes to savers

LONDON, June 26 (Reuters) - Britain's finance minister Jeremy Hunt said on Monday that banks are too slow to pass on increases in central bank interest rates to savers and this is a problem that needs to be resolved.

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26 Jun 2023 11:57

LONDON MARKET MIDDAY: Risk-off amid higher rates, Russia instability

Alliance News) - Stock prices in London were lower at midday on Monday, as an aborted uprising in Russia over the weekend and hawkish moves from central banks over the past two weeks caused investors to tread carefully.

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26 Jun 2023 10:10

JPMorgan downgrades Lloyds to 'underweight'

(Sharecast News) - JPMorgan Cazenove downgraded its stance on Lloyds on Monday as it took a look at UK banks.

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