Member Info for fleccy

"Well done fleccy happy for you. Why not take the profit and then you aren't at the whim of 1 companys results"

Just got back from the gym and ws gobsmacked to see the share price. The paper gain on our Lloyds holdings is now showing as £82,259.04

Our Lloyds shares are also currently showing a paper gain of £67,794.97, so we're doing ok.

All the articles are talking down the results, the market is all about narratives these days. You wont read anywhere that Lloyds is cheap based on fundamentals, which it is.

"Happy as Larry just reallly interested in yield myself drip drip drip"

Indeed, a total annual Lloyds dividend of 3.26p adds £14,598.41 in passive income from our 447,804 shares.

Then why are you here Bloomer?

If the share price does drop at the open, which it may well do, it wont be because of the Motor Finance provision. Nat west came out with good results and took a hit of around 20p and recovered days later. If Lloyds does drop at the open it'll be more about market games. UK FTSE 100 stocks seem to be at the mercy of the larger market players these days, since compared to US stock valuations they could be considered as small cap stocks. I'm not saying US stocks are better, they're just vastly overvalued in my opinion.

"In the fourth quarter we took an additional £700 million provision for the potential remediation costs relating to motor finance commission arrangements. This is in light of the Court of Appeal judgment on Wrench, Johnson and Hopcraft that goes beyond the scope of the original FCA motor finance commissions review. The provision reflects a probability weighted scenario based methodology incorporating a number of inputs. Clearly significant uncertainty remains around the final financial impact. In this context we welcome the expedited Supreme Court hearing at the beginning of April.

Despite the additional provision for motor finance commission arrangements we remain highly committed to shareholder distributions. Our robust performance and strong capital position and generation has enabled the Board to recommend a final ordinary dividend of 2.11 pence per share, resulting in a total dividend for the year of 3.17 pence. This is up 15 per cent on the prior year, in line with our progressive and sustainable ordinary dividend policy. In addition, the Group has announced its intention to implement a share buyback programme of up to £1.7 billion, as we continue to distribute excess capital to shareholders. This is in line with our target to pay down to 13.5 per cent CET1 ratio by the end of 2024."

"Robust financial performance1

• Statutory profit after tax of £4.5 billion (2023: £5.5 billion) with net income down 5 per cent on the prior year, operating costs up 3 per cent (including the Bank of England Levy) and higher remediation and impairment charges. Return on tangible equity of 12.3 per cent, 14.0 per cent before the provision charge for motor finance commission arrangements

• Underlying net interest income of £12.8 billion, down 7 per cent reflecting a lower banking net interest margin of 2.95 per cent and broadly stable average interest-earning banking assets of £451.2 billion. Underlying net interest income of £3.3 billion in the fourth quarter, up 1 per cent, with a higher banking net interest margin of 2.97 per cent

• Underlying other income of £5.6 billion, 9 per cent higher than the prior year, driven by strengthening customer and market activity and the benefit of strategic initiatives. Underlying other income in the fourth quarter was stable on the third quarter

• Operating lease depreciation of £1,325 million, up on 2023 as a result of fleet growth, the depreciation of higher value vehicles and declines in used electric car prices; £331 million in the fourth quarter, consistent with expectations

• Continued cost discipline; operating costs of £9.4 billion, up 3 per cent and in line with guidance, with cost efficiencies helping to partially offset inflationary pressures, business growth costs and ongoing strategic investment, alongside c.£0.1 billion relating to the sector-wide change in the charging approach for the Bank of England Levy

• Remediation costs of £899 million in the year (2023: £675 million), including £775 million in the fourth quarter, of which £700 million was in relation to the potential impact of motor finance commission arrangements

• Strong asset quality; underlying impairment charge of £433 million and an asset quality ratio of 10 basis points. Excluding the impact of improvements to the economic outlook, the asset quality ratio was 19 basis points. The portfolio remains well-positioned with improved credit performance in the year"

"Your proof of stake comments are merely speculation on your behalf, NOT fact"

Mikey you need to read up on the differences between Proof of Work and Proof of Stake and understand why CBDC's and Commodity backed tokens are more likely to be centralised and therefore more likely to use Proof of stake.

Back in 2021 QBT said that they were only looking at Proof of Work tokens, so it isn't speculation to say that QBT are focused on only proof of work crypto.

"Furthermore, already existing and imminent optimisations are expected to be made available for mining on commercial cores within the next three months, on FPGA chips within the next six months and ultimately on ASIC chips by the second half 2022.

This line of R&D, which relies on AI deep-learning and cryptanalysis amongst other techniques, represents one of the “out-of-the-box” directions taken by the Company to achieve highly competitive Bitcoin mining results. The Company and its new consultant will also explore other proof-of-work cryptocurrencies and their competitive mining advantages"

https://www.lse.co.uk/rns/QBT/business-update-in-house-rd-846azy74k8ecxuq.html

Litigation is an expensive business.

"The CR shall pay 85% of BT’s costs of the action to be the subject of a detailed assessment on the standard basis.

The CR shall make a payment on account of such costs to BT in the sum of £14,000,000 by 4pm on 13 March 2024.

The application for PTA is refused.

The application to stay the detailed assessment of BT’s costs pending any application to the Court of Appeal for PTA and/or subsequent appeal is refused.

The Tribunal declines to make any recommendation to the Court of Appeal that if it grants PTA, any appeal should be expedited.

The time for the CR to file any further application for PTA and Notice of Appeal to the Court of Appeal is 4pm on Thursday 6 March 2025"

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.catribunal.org.uk/sites/cat/files/2025-02/13817721%20Justin%20Le%20Patourel%20v%20BT%20Group%20PLC%20-%20Reasoned%20Order%20%28Permission%20to%20Appeal%20and%20Costs%29%20%2013%20Feb%202025.pdf

"Openreach build, maintain and provide connectivity on BT's network infrastructure to all service providers"

Indeed, BT owns the ducts, poles and wayleaves, Openreach lay the fibre on behalf of BT and Altnets who rent space through PIA. Openreach is basically a facilities provider paid to install, maintain and manage BT's infrastructure.

"I sold all but 2 of mine today. Took the hit as I reckon this is no short term blip. I'll buy back at £1.10"

Did you sell half your holding? If it goes down to £1.10, will you be spending £2.40 to restore your holding back up to 4?

"And QBT is there ... ready and waiting for the changes ... with its revolutionary Blockchain disruption"

Assuming QBT can succeed in commercialising any of their methods, they are based on Proof of Work crypto. Any Central bank, or commodities backed tokenisation would likely be based on Proof of Stake. From what I've read, QBT have nothing associated with Proof of Stake and will therefore not benefit from any move to use CBDC's and Commodity backed tokens.

"what did you think about Black Rock , re-categorising BTC as a 'risk off ' asset ??"

Blackrock play's with, and profits from, other peoples money, they'll say anything if it increases their profits. Anything they say has to be seen as them talking their own book. I wouldn't trust anything they say.

Carl Murdock-Smith previously worked at Berenberg and before that he worked for BT in investor relations, he only moved to Citi in November. I'd suggest that this rating is more about Carl Murdock-Smith than BT's prospects.

"Worthwhile being factual the first patent application has been rejected"

Yep, hence why I included patents as also going nowhere

Using your logic, if I decided to report all the ramping posts the forum would be devoid of any dialogue. You just report anything that you consider against your interests. I'd argue there's no proof that QBT have anything of commercial value, that would interest miners or manufacturers, so far it's just been words and patents that have gone nowhere.

"The usual usernames working together to recapitulate the narrative speaks volumes, and is documented"

You're just paranoid. There's no collusion here on my part, I just don't believe QBT will produce anything that'll generate revenue, of course you just report any post that works against your vested interest. You just report cancel any any thread containing criticism of QBT, but don't give rampers posts the same treatment.

A metaphor for Mikey reporting posts

https://imgur.com/gallery/can-someone-turn-this-into-down-vote-to-oblivion-gif-qhqr0Nt

Lol, this will be another thread that'll be Mikey'd and disappear int oblivion.