RE: Lloyds10 Feb 2025 13:13
"The miss selling issue is a concern that will play out over time and may yet have an impact"
Yes, they will probably have to fork out some cash. But I dont anticipate that it will be the end of the world, or as some here claim, that it will make the SP dive into the forties. It still appears to me to be a well run business that is in better shape than when I first purchased after the Brexit referendum in 2016. Their IT is notoriously bad but they have a technology strategy that has identified that and replace about 10% of its legacy stock. Often people cite challenger banks as the secret of Lloyds undoing but I think that is an overestimation. They continue aggressively closing branches so whether or not that affects how many mortgages they sell still remains to be seen. They have also diversified into an area that should also provide selling opportunities for other products to be renters who are wannabee homeowners. The SP always seems to take fright at any UK macro bad news so I dont ever feel complacent about it, but it remains my biggest holding. I could reduce now as the SP has reached its year high, but there we are, I very rarely sell anything as prefer to retain for income.