Lloyds Banking Group

Bank of Scotland is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the fifth-oldest surviving bank in the United Kingdom (the Bank of England having been established one year before), and is the only commercial institution created by the Parliament of Scotland to remain in existence. It was one of the first banks in Europe to print its own banknotes and it continues to print its own sterling banknotes under legal arrangements which allow Scottish banks to issue currency.

Bank of Scotland

Lloyds Banking Group Plc is a financial services company, which engages in the provision of banking and financial services. It operates through the following segments: Retail, Commercial Banking, Insurance and Wealth, and Other. The Retail segment offers broad range of financial service products, including current accounts, savings, mortgages, motor finance and unsecured consumer lending to personal, and small business customers. The Commercial Banking segment provides a range of products and services such as lending, transactional banking, working capital management, risk management and debt capital markets services to SMEs, corporates, and financial institutions. The Insurance and Wealth segment focuses on the insurance, investment, and wealth management products and services. The Other segment refers to income and expenditure not attributed to the group’s financial reporting segments. These amounts include those arising from the group’s equities business, residual net interest income after transfer pricing, and certain gains from gilt sales. The company was founded by George Truett Tate in 2009 and is headquartered in London, the United Kingdom.

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Lloyds Banking Group PLC (LSE:LLOY) and NatWest Group PLC (LSE:NWG) rose after the chancellor cut the surcharge on their profits from 8% to 3%. There had been speculation that the sector would be another target for Jeremy Hunt but deep in the recesses of the autumn statement was some good news for the sector.

Lloyds Banking Group rises as bank surcharge is cut to 3%

Lloyds Banking Group PLC (LSE:LLOY) has poached the head of strategy from HSBC Holdings PLC (LSE:HSBA) to head up its Scottish Widows arm, which covers its insurance, pensions and investments business. Chirantan Barua, who has only been at the Asia-focused lender since 2020, will replace Antonio Lorenzo when he retires next year.

Lloyds Banking poaches strategy chief from HSBC to lead pensions and investment arm

Bad debts at Lloyds Banking Group PLC (LSE:LLOY) and other high street lenders could reach £47bn as the UK economy struggles, Credit Suisse has warned. The FTSE 100 banks, which also include Barclays PLC (LSE:BARC), HSBC Holdings PLC (LSE:HSBA), NatWest Group PLC (LSE:NWG) and Standard Chartered PLC (LSE:STAN), could have to write off the loans over the next two years, the Swiss investment bank calculated under its worst-case scenario.

Lloyds and other banks' bad debts to hit £47bn during UK recession - Credit Suisse

Lloyds Banking Group PLC (LSE:LLOY) disappointing quarterly profits number, squeezed by higher provisions for bad debt, may in time bode well for future shareholder distributions, that's according to analysts at Shore Capital. As the UK banking sector delivered results largely in line with expectations at stockbroker Shore Capital, Lloyds remains its analyst team's least preferred (whilst still passing muster as a ‘buy' for the broker).

Lloyds Banking Group still tipped for significant upside despite disappointing quarter

Lloyds Banking Group PLC has offered its UK staff a minimum pay rise of £2,000, Reuters reported.  Lloyds employees have been offered either a £2,000 pay rise or a 5% salary increase, whichever is greater, up to a maximum of £5,000, Reuters said, citing a notice published by the Unite union to its members.

Lloyds offers staff £2,000 minimum pay rise - report

Britain's biggest domestic bank Lloyds has offered UK staff a minimum 2,000 pounds ($2,242) pay rise, a source with knowledge of the talks told Reuters, as lenders and employees across the sector begin annual pay talks that could see wage bills soar.

UK's Lloyds Bank offers staff 2,000 pounds minimum pay rise

Banking shares were broadly lower after the Bank of England's rate rise on fears that a slowing economy would lead to a collapse in the housing market, rising unemployment and increased business failures while a leading economic think tank said millions of homeowners face misery if interest rates keep on rising.  The NIESR warned households would come under severe pressure if UK interest rates were to rise as high as 5% with variable rate mortgage repayments  potentially doubling affecting the 2.5mln UK households on a variable rate mortgage.

Lloyds leads bank lower after rate rise while homeowners face mortgage misery

Lloyds (LON: LLOY) share price pulled back on Thursday as investors reflected on the latest Bank of England (BoE) rate decision. The shares dropped to a low of 41.48p, where it has been in the past few days.

Lloyds share price is recoiling: Is it a good investment?

Lloyds Banking Group PLC (LSE:LLOY) shares are "significantly undervalued" despite the lender being "well placed" to benefit from further interest rate rises from the Bank of England, said analysts at Barclays. Following third-quarter results from the FTSE 100-listed group and ahead of another expected BoE rate hike this week, banking analyst Aman Rakkar kept his rating at 'equal weight' but lifted the share price target 10% to 55p, which compared to the Tuesday's closing price of 42p.

Lloyds shares 'significantly undervalued' despite expected benefit from interest rate hikes - analyst

NatWest Group plc 

Lloyds, Natwest and Barclays all made gains on reports that the government had decided not to implement a windfall tax on their profits. The Sunday Times reported that a windfall tax on the banking sector to plug a big hole in the government finances was unlikely.

Lloyds Bank, NatWest lead bank rally on no windfall tax report

Strong results from Lloyds Banking Group PLC (LSE:LLOY) were “masked” by its careful approach to a potential rise in bad loans, analysts said. This has also perhaps overshadowed the growing potential for the FTSE 100-listed lender to make higher shareholder distributions than investors have been expecting, said analysts at Barclays.

Lloyds Banking dripping with cash so investors should expect higher returns, say analysts

In the nine months to 30 September 2022, the Group recorded a profit before tax of £4,480 million compared to £5,103 million in the same period in 2021, representing a reduction of £623 million as higher total income was more than offset by the impact of a net impairment charge for the period compared to a net credit for the first nine months of 2021. Profit after tax was £3,346 million.

Lloyds Bank plc 2022 Q3 Interim Management Statement

Lloyds Banking Group profit tumbles 26% over amid impairment charge, challenging economy

Lloyds Banking Group PLC (LSE:LLOY) (Lloyds Banking Group PLC (LSE:LLOY)) has reported third quarter net income of £4.59bn, up 13% and in line with market forecasts, but announced a jump in bad debt charges to £668mln taking the total for the nine months to date this financial year to £1.045bn. Underlying profits before the impairment charges were £2.4bn, a 22% increase on the same period last year, while underlying profits were down 17% to £1.73bn.

Lloyds reports 13% jump in Q3 net income but bad debt provisions rise

Lloyds Banking Group reported a slide in quarterly profits on Thursday, as the lender braced for a potential rise in loan defaults as inflation squeezes borrowers.

Lloyds reports Q3 profit slide on bad loan charges

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Shell PLC

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For Lloyds Banking Group PLC (LSE:LLOY), which is due to post a quarterly update on Thursday, an economic downturn is worse for business than for peers like Barclays and HSBC that have less of a focus on traditional banking in the UK. Investors and analysts will be keeping an eye on impairment charges as the bank prepares for more people defaulting on their loan repayments (read the Lloyds preview here), while the lender became the first in the industry to stop direct finance for new oil and gas development.

Lloyds, Shell, Apple and Amazon on a jam-packed Thursday

Lloyds (LON: LLOY) share price is consolidating ahead of the upcoming quarterly results. The shares dropped slightly to 42p, which was still much higher than this month's low of 38.47p.

Lloyds share price forecast: Q3 earnings preview

Barclays

With the UK announcing Rishi Sunak as this month's Prime Minister, gilts saw a positive correction, Sterling dipped slightly against the US dollar, and major banking shares rallied. Read on for a brief overview of how the markets responded to Rishi.

Lloyds, Barclays and natural gas up, gilts fall back: How the markets responded to Rishi

U.K. Prime Minister Liz Truss was forced out by the bond market vigilantes earlier this week. Since we do not yet know who the country's next leader will be, owning Lloyds Banking Group PLC ( LSE:LLOY , Financial) ( LYG , Financial) could be considered a bit of a contrarian bet.

Lloyds Banking Group Is as Safe as Houses

Britain's biggest domestic bank Lloyds said on Thursday it would not support direct financing to develop new oil and gas fields, joining a small number of lenders to push back on funding expansion of the industry.

UK's Lloyds ditches project finance for new oil and gas fields

An awful lot has changed in the UK economy even since Britain's largest high-street bank's interim financial results in mid-September, so what will be the key focal points as Lloyds Banking Group PLC (LSE:LLOY) updates the market on Thursday. There's so far little to suggest that the volatility and unpredictability in UK politics and economics will be over any time soon, nevertheless, some simple features will remain clear according to analysts.

What to look for as Lloyds investors eye crucial trading update

Lloyds Banking Group PLC (LSE:LLOY) has said it will stop the direct financing of new greenfield oil and gas developments. It is the first of the UK's big five banks to make such a commitment in what was an updated statement on its environmental, social and governance (ESG) policies.

Lloyds Bank stops direct finance for new oil and gas developments

Shares in Lloyds Banking Group PLC (LSE:LLOY) and Barclays PLC (LSE:BARC) were down 3.4% and 1.34% respectively in Wednesday's early deals amid reports the new chancellor Jeremy Hunt is plotting a new round of windfall taxes targetting banks and energy companies as he seeks to plug gaps in government finances. The new windfall tax threat comes as investors await UK banks reporting on their third quarter performance, starting next week with HSBC Holdings PLC (LSE:HSBA).

Lloyds and Barclays shares fall as ‘windfall' tax looms

HSBC Holdings

Citi has again highlighted its liking for UK domestic banks over their international rivals within the financial share universe, with Lloyds, Natwest and Barclays all rated as buys. The US investment bank said the extreme moves in gilts and the pound following now ex-chancellor Kwasi Kwarteng's mini-Budget will add around two percentage points to their cost of equity.

Lloyds and other UK banks still have lots of appeal after mini-Budget, says Citi

UK banks have enjoyed a spike in mortgage applications accompanied by sharply rising prices after the chaos following the mini-budget, according to new data from Barclays. The bank notes, however, that pressure on incomes is growing with household spending starting to soften while the higher rates being charged on mortgages have long-term implications.

News for Lloyds Banking Group Stock (LYG)