Who likes my email to LBG8 Nov 2024 12:46
Good Afternoon,
Sixteen years since the financial crisis, the new Lloyds Banking Groups share price has been appalling, billions in buybacks, various CEO's and strategies, various missed opportunities and potentially the odd mis selling issues.
Promises of a combined group offering good shareholder returns have clearly not materialised.
We are sure the Board are aware of all this, but how long can this go on for? poor economic situations are used as reasons, compared to other institutions like NatWest, Barclays and dare we say Metro bank that have been through the same poor economic situations, Lloyds is a stand out incredibly poor performer.
What measures other than a buyback, closing branches and general cost cutting is actually being done to put confidence back into Lloyds Banking Group?
It must be time for the Board to agree that the Lloyds model is simply not going to work and not create investor confidence as this has been totally destroyed over the last sixteen years and now is clearly a value trap.
Has breaking up the group, selling off parts of the group, floating parts of the group separately and returning money or free shares to share holders been considered?, closing branches faster to aid the online transition is one thing but surely confidence is never going to return to the current LBG model.
Seany123. a very long standing out of patience shareholder.