Roundtable Discussion; The Future of Mineral Sands. 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: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.12 (0.23%)
Spread: 0.04 (0.077%)
Open: 52.38
High: 52.90
Low: 52.18
Prev. Close: 52.06
LLOY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-UK Post Office creates Money brand to bolster growth aims

Mon, 26th Jan 2015 16:02

* To bring all services under Post Office Money brand

* Seeks to be major financial services provider by 2020

* Britain wants challengers to take on biggest banks (Adds details, quotes from director)

By Matt Scuffham

LONDON, Jan 26 (Reuters) - Britain's Post Office said itwould bring all its financial services under one brand as partof plans to become one of the UK's biggest financial servicesproviders by 2020, laying down a challenge to the country'sincumbent banks.

The Post Office, which partners with Bank of Ireland to offer banking services, said it would launch the"Post Office Money" brand which customers could access in its11,500 outlets or online.

The move is intended to present the Post Office as achallenger to Britain's biggest banks, which have been hit byscandals ranging from the mis-selling of loan insurance to theattempted rigging of benchmark interest rates.

Lawmakers and regulators are keen for challengers to emergeto break the dominance of Britain's "Big Four" lenders, LloydsBanking Group, Royal Bank of Scotland, Barclays and HSBC, which control more than threequarters of personal current accounts and make nine out of 10loans to small businesses.

"Post Office Money is committed to providing customers withan offering that is fair, accessible and helps them manage theirfinancial needs," said Nick Kennett, director, financialservices, at Post Office Money.

Other new entrants include Metro Bank, which said last weekit had increased lending by 112 percent in 2014.

The Post Office began offering personal current accounts in2013 in an attempt to broaden its customer base. It already has3 million customers for its banking and insurance businesses and9 million using its foreign currency service. Post Office Moneywill also offer home loans, savings products and travelinsurance.

Post Office Money is looking to take advantage of Britain'sbiggest banks closing branches, which has been criticised asleaving some consumers without easy access to a local branch.

It will offer customers extended opening hours and Sundayopening at 2,500 branches.

Separately on Monday, Spanish bank Santander saidit had reached an agreement with the Post Office for its Britishcustomers to bank at the Post Office's outlets.

Santander said the arrangement was part of a widerinvestment programme that has involved it refurbishing 40percent of its branches and investing in technology. (Editing by Steve Slater and David Holmes)

More News
3 May 2024 16:28

Intesa targets new digital-only clients after antritrust blow

Antitrust ruling derailed client migration timetable

*

Read more
2 May 2024 12:30

Direct Line revamps management with three new appointments

(Alliance News) - Direct Line Insurance Group PLC on Thursday announced several new appointments, which the company's chief executive officer hailed as "central to delivering our strategy to transform the group".

Read more
29 Apr 2024 07:00

Britain's NatWest share sale to test UK equity market upswing

Government keen to revive share-owning culture via offer

*

Read more
27 Apr 2024 12:00

Britain's NatWest share sale to test UK equity market upswing

Government keen to revive share-owning culture via offer

*

Read more
26 Apr 2024 16:35

London close: Stocks buoyed by banking, mining positivity

(Sharecast News) - London's equity markets closed positively on Friday, buoyed by gains in the banking sector following better-than-expected results from NatWest.

Read more
26 Apr 2024 09:45

NatWest profit falls less than feared ahead of state escape

First-quarter profit down 27% in competitive market

*

Read more
24 Apr 2024 15:09

London close: Stocks finish weaker after earlier gains

(Sharecast News) - London markets closed the day weaker on Wednesday, reversing earlier gains as Wall Street stocks opened lower, although mining stocks remained above the waterline.

Read more
24 Apr 2024 11:55

LONDON MARKET MIDDAY: Investors shake off pre-US inflation nerves

(Alliance News) - The FTSE 100 in London was higher at midday on Wednesday, as investors look ahead to the US Federal Reserve's next test on Friday.

Read more
24 Apr 2024 09:11

TOP NEWS: Lloyds profit squeezed by rising costs as revenue declines

(Alliance News) - Lloyds Banking Group PLC on Wednesday said first quarter profit slumped as the benefits of higher interest rates faded amid mounting costs.

Read more
24 Apr 2024 09:04

LONDON MARKET OPEN: Reckitt up on strong start to 2024; Lloyds falls

(Alliance News) - Stock prices in London opened higher on Wednesday, building on this week's gains, as investors look ahead to some key US data.

Read more
24 Apr 2024 07:42

LONDON BRIEFING: Lloyds profit takes hit; Jet2 cuts guidance

(Alliance News) - Stocks in London are set to open higher on Wednesday, as the release of some key US data edges closer

Read more
24 Apr 2024 07:02

Lloyds Bank holds guidance as Q1 profit falls £28%

(Sharecast News) - Lloyds Bank held annual guidance despite a 28% fall in first-quarter profits due to lower net interest income and higher operating expenses, as competition for mortgages and savings squeezed margins.

Read more
23 Apr 2024 10:43

Wednesday preview: US corporate results, Lloyds in the spotlight

(Sharecast News) - The market spotlight on Wednesday will be firmly on the U.S., as the latest quarterly results from the country's tech heavyweights continue to roll in.

Read more
22 Apr 2024 09:04

LONDON BROKER RATINGS: Jefferies raises B&M to 'hold'

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

Read more
19 Apr 2024 12:02

LONDON MARKET MIDDAY: Stocks down on Israel attack on Isfahan, Iran

(Alliance News) - Stock prices in London were down at midday on Friday, as equity sentiment suffered by worries of a conflict escalation between Iran and Israel, after Iranian state media reported explosions in the province of Isfahan.

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.