Shares in TSB for sale by end of June as Lloyds kicks off £1.5bn flotation May 1, 2014 RETAIL investors will get a chance to buy shares in new high street bank TSB by the end of June, Lloyds said yesterday. The group is selling off the bank as part of the terms of its 2008 bailout. Up to 40 per cent of TSB is likely to be on offer in the first [...]
London Report: Lloyds profit boost helps FTSE approach a two-month high May 1, 2014 BRITAIN’S blue-chip share index hit its highest level in about two months yesterday, rising for a fourth straight session as gains at Lloyds bank buoyed the market. The FTSE 100 index ended up by 0.4 per cent, or 28.84 points, at 6,808.87 points, its highest close since 4 March. Shares of Lloyds surged 5.5 per [...]
Lloyds reports 22pc jump in first quarter profits May 1, 2014 Lloyds Banking Group has shown this morning that its profitability continues to improve. In the first quarter, underlying profits rose 22 per cent to £1.8bn, from £1.5bn last year. Chief executive Antonio Horta-Osorio says a stronger, lower-risk balance sheet is helping the bank to power forward, calling Lloyds "well positioned to support and benefit from [...]
Lloyds struggling to identify a non-exec to reform IT system April 8, 2014 LLOYDS is having trouble finding a non-executive director who can understand its ageing IT systems and bring the bank into the modern world, its former chairman Sir Win Bischoff said yesterday. Currently Lloyds’ computer setup is made of decades-old systems from several banks, forced together over years of mergers. “We as a bank are looking for [...]
Lloyds struggles to hire IT director April 8, 2014 Lloyds is having trouble finding a non-executive director who can understand its creaking IT systems and bring the bank into the modern world, its former chairman Sir Win Bischoff said today. Currently its computer setup is made of decades-old systems from several banks, forced together over years of mergers and acquisitions. “They have been bolted [...]
London Report: FTSE 100 ends flat after Lloyds’ drop weighs index down March 26, 2014 SHARES in Lloyds plunged 4.9 per cent yesterday after the government sold a stake in the lender at a discount to its stock price, and held back the UK’s blue chip equity index. The FTSE 100 index, which at one stage rose as much as 0.6 per cent, ended up by just 0.41 points, flat [...]
Lloyds shares plunge 5.8pc after second government stake sale March 26, 2014 Lloyds shares are down 5.8 per cent at 74.7p per share after the government's sale of a 7.8 per cent stake in the bank. The government sold 5.56bn Shares priced at 75.5p each, raising £4.2bn for the treasury. The government's holding in Lloyds has now been reduced to 24.9 per cent from 39 per cent [...]
Treasury selling £4.2bn of stock in Lloyds Bank March 25, 2014 LLOYDS is taking another step towards privatisation as the government last night announced it is selling another 7.5 per cent stake in the bank. The 5.35bn shares are worth around £4.2bn at last night’s closing price of 79.1p – firmly above the 73p the government paid for the stock. However, the large placement of shares [...]
UKFI to sell further 7.5 per cent stake in Lloyds March 25, 2014 UK Financial Investments, the body responsible for the government's stake in state-supported banks RBS and Lloyds, has announced that it intends to sell part of the Treasury's shareholding. Approximately 7.5 per cent of Lloyds is up for grabs, or 5.35bn ordinary shares. That should see the government's stake in Lloyds reduced from 32.7 per cent [...]