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Wids

""Recession now being priced into banks ""

No just a no-deal Brexit price in

Lloyds Banking Group
How we're supporting Pride in 2019
28 June 2019

https://www.lloydsbankinggroup.com/Media/Press-Releases/2019-press-releases/lloyds-banking-group/how-were-supporting-pride-in-2019/

Lloyds Banking Group

Lloyds Bank
Business Confidence Rises for Third Time in Four Months
28 June 2019
The latest Lloyds Bank Business Barometer shows:

Overall business confidence[1] rose by 3 points to 13% in June, although remaining below the long-term average2 and continuing to fluctuate month to month

Confidence in retail, construction and services was up, with the retail sector seeing the highest increase of 11 points to 22%.

In contrast, confidence in the manufacturing sector fell by 11 points to 10%.

Confidence grew in eight of the UK’s 12 regions, with the largest improvements seen in Scotland and the North East.

Overall business confidence in June rose for the third time in four months, increasing by 3 points to 13%, according to the latest Lloyds Bank Commercial Banking Business Barometer. This rise follows a 4 point decline in May (chart 1).

https://www.lloydsbankinggroup.com/Media/Press-Releases/2019-press-releases/lloyds-bank/business-confidence-rises-for-third-time-in-four-months/

It's a Good time to top up Lloyds share price is supper cheap, dividend to yield around 6% this year

lloyds holding up quite well considering the uncertainty of brexit

a buyback will immediately boost earnings per share

Trump would never invest in ukog the U/S produce 14 million barrels a day Oil globally is oversupplied

a buyback will immediately boost earnings per share

24 June 2019
With the summer festival season now in full swing, Lloyds Bank Home Insurance is reminding revellers to look after their personal belongings and make sure they have the right level of cover in place.



Last year Lloyds Bank Home Insurance received 1,814 claims for accidental loss of belongings outside the home, and 1,247 claims for theft of belongings outside the home.

https://www.lloydsbankinggroup.com/Media/Press-Releases/2019-press-releases/lloyds-bank/lloyds-bank-summer-festival/

Lloyds Bank has frozen thousands of expatriate bank accounts, including some in the Channel Islands, because of changes to Jersey's money laundering laws.

Over the last three years we have made multiple attempts to contact these customers, asking that they provide us with the necessary information. Unfortunately, where a customer has not provided us with this necessary information we have had to freeze their account until we get the information. This is also to protect the customer, as it prevents anybody else trying to use the account if the customer has stopped using it or has moved address.

Lloyds Banking : fined £45.5 million over HBOS fraud disclosure failings
Envoyer par e-mail
06/21/2019 | 11:10 am
LONDON (Reuters) - Britain's financial watchdog has fined Lloyds Banking Group 45.5 million pounds for failures at its HBOS Reading unit to disclose suspicions of fraud.
Halifax Bank of Scotland (HBOS) was involved in one of Britain's biggest ever banking frauds in the early 2000s, which saw some of its bankers enrich themselves at the expense of struggling business clients, some of whom succumbed to insolvency after being advised to borrow unsustainable amounts.

HBOS was rescued in a state-engineered takeover by Lloyds in 2009. The Financial Conduct Authority (FCA) says HBOS identified suspicious conduct in Reading in early 2007 but did not tell the regulator until 2009, the year Lloyds acquired the bank.

Six people including two former HBOS bankers were jailed in 2017 for a combined 47 years for their role in the fraud.

The FCA said HBOS failed to be open and cooperative and failed to disclose information appropriately to the then regulator, the Financial Services Authority (FSA).

The bank's failures caused delays to investigations by both the FCA and Thames Valley Police, said Mark Steward, the FCA's executive director of enforcement and market oversight.

"There is no evidence anyone properly addressed their mind to this matter or its consequences," Steward said.

Lloyds Banking Group said it welcomed the FCA's "comprehensive investigation" and accepts the findings of past disclosure failure associated with fraud at HBOS in Reading.

"The Group accepts the findings, has agreed to pay a fine of 45.5 million pounds and apologises once again to customers affected by the fraud itself," the bank said in a statement.

During the hearing, MPs pointed out that shortly after Horta-Osório’s pension contribution reduction from 46 to 33 per cent, totaling a £167,000 annually, he was awarded a fixed-share allowance totaling £150,000 over fiver years.

His pension was cut from £574,000 to £407,000 annually, however last year his overall package increased by £19,000 to £2,895,288. The average salary of a Lloyds employee is £37,000.

https://www.pensionsage.com/pa/Lloyds-behind-the-curve-on-executive-pensions.php

RBC pointed out the bank’s shares have risen 11% in the year to date, compared to 1% for the rest of the market.

https://www.proactiveinvestors.co.uk/companies/news/222501/lloyds-offers-consistent-dividend-yield-says-rbc-as-it-keeps--outperform--rating-222501.html

Buy Pound Sterling and Sell the Euro

Sterling rises for a second day as confidence grew that arch-Brexiteer Boris Johnson, the top contender to become the next British Prime Minister, will lead the country out of the European Union without a deal by Oct. 31.

Lloyds Banking : Open Banking startups warned over data leak
Envoyer par e-mail
06/19/2019 | 07:20 am
A SINGLE data breach at an Open Banking startup could "fatally" damage the developing sector, Nicky Morgan, chair of the Treasury Select Committee, warned yesterday.

Open Banking, which allows users to view all their financial information in one place, relies on customers providing their data to a third party.

Morgan said if the sector is to succeed it will "have to meet the challenge of gaining the trust of their would-be customers".

"Having rightly been told to never hand over personal banking data to third parties, consumers are extremely reluctant to hand over very sensitive personal data, such as their own spending habits, to third parties, many of which will be relatively new startups that don't have a track record in handling data of that kind," she said at a conference run by The City UK.

"Let me at this point offer a warning, it may only take one data breach of financial records from an open banking start up for the entire retail Open Banking proposition to be damaged, perhaps fatally."

The boss of Lloyds Banking Group is a "winner" and worth every penny of his £2.8m pay package, the bank told a committee of MPs probing high executive pay.

Stuart Sinclair, the head of Lloyds' remuneration committee, said that nobody resented Antonio Horta-Osorio's pay because he returned the bank to full private ownership after the lender’s £20.3bn bailout at the height of the financial crisis.

"People like a winner," Mr Sinclair said. "When I go out to see people who are on £22,000, £30,000, £40,000, they see Antonio as a winner because he bought this bank back from the brink.
https://www.telegraph.co.uk/business/2019/06/19/lloyds-boss-winner-worth-every-penny-bank-tells-mps/

“Our research confirms businesses are stockpiling as a precautionary measure, in the face of political and economic uncertainty, to ensure they are in a strong position to face into any potential challenges. Such a deliberate response to an ongoing situation can be risky as cash invested in inventory is rarely easy to release meaning firms are less able to invest in growth or respond to unexpected changes in demand.”

https://www.lloydsbankinggroup.com/Media/Press-Releases/2019-press-releases/lloyds-bank/british-businesses-sitting-on-600bn-that-could-be-used-to-fund-growth/

19 Jun 06:30 ET / 10:30 GMT BRITAIN-BANKS/PENSIONS

British bank CEOs answer lawmakers' questions on executive pensions Lloyds Banking Group CEO Antonio Horta-Osorio and senior executives from HSBC are set to be grilled by British lawmakers over executive pension payouts, a source of controversy in recent months amid claims top bankers are receiving 'stealth pay rises' via pensions while ordinary workers lose out.

Published: 18/06/2019

British businesses could have £593bn locked up in excess working capital, potentially hampering growth and leaving them exposed to economic uncertainty, according to new research from Lloyds Bank Commercial Banking.

http://www.manufacturingmanagement.co.uk/news/british-businesses-sitting-on-600bn-that-could-be-used-to-fund-growth

j15006

"""LLOY has had terrible IT systems and I guess they think they - the IT guy - are world leaders"""

Lloyds is to create 2,000 net new jobs as part of a £3bn programme aimed at stepping up its digital transformation.

https://www.moneysavingexpert.com/news/2019/06/lloyds-launches-banking-app-to-view-current-account--savings-and/

j15006

"""Good news - if so why"""

British businesses 593bn tied up in capital

Well I read it as good news for the UK being the 5 largest global economy and having Boris leading us to a no deal brexit come 31 October the UK takes control of its Destiny.
Lloyds and the UK are and will be booming