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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Barclays

NatWest Group plc 

Barclays PLC (LSE:BARC), NatWest Group PLC (LSE:NWG), Lloyds Banking Group PLC (LSE:LLOY) and other UK banks have provided the National Court Agency with customer data as part of plans to tackle "dirty money" flowing through the company's economy.  The project, which is the largest of its kind in the world, is set to take on criminal gangs and money laundering, which is estimated to cost the economy some £350 billion every year.

Lloyds, Barclays and NatWest share client data in 'dirty money' crackdown

Lloyds Banking Group plc (NYSE:LYG ) Q2 2024 Earnings Conference Call July 25, 2024 4:30 AM ET Company Participants Charlie Nunn - Executive Director and Group Chief Executive William Chalmers - Executive Director and Chief Financial Officer Conference Call Participants Jason Napier - UBS Aman Rakkar - Barclays Benjamin Toms - RBC Capital Markets Edward Firth - KBW Joseph Dixon - Jefferies Guy Stebbings - Exane BNP Andrew Coombs - Citi Chris Cant - Autonomous Amit Goel - Mediobanca Operator Thank you for standing by, and welcome to the Lloyds Banking Group 2024 Half Year Results Call. At this time, all participants are in a listen-only mode.

Lloyds Banking Group plc (LYG) Q2 2024 Earnings Call Transcript

LONDON, July 25, 2024 (GLOBE NEWSWIRE) -- Member of the Lloyds Banking Group   CONTENTS       Financial review 1         Risk management     Principal risks and uncertainties 3   Capital risk 4   Credit risk 8   Liquidity risk 18         Statutory information     Condensed consolidated half-year financial statements (unaudited) 21   Condensed consolidated income statement (unaudited) 22   Condensed consolidated statement of comprehensive income (unaudited) 23   Condensed consolidated balance sheet (unaudited) 24   Condensed consolidated statement of changes in equity (unaudited) 25   Condensed consolidated cash flow statement (unaudited) 28   Notes to the condensed consolidated half-year financial statements (unaudited) 29         Statement of directors' responsibilities 58   Independent review report to Lloyds Bank plc 59   Forward looking statements 60   Contacts 61         FINANCIAL REVIEW   Principal activities Lloyds Bank plc (the Bank) and its subsidiary undertakings (the Group) provide a wide range of banking and financial services through branches and offices in the UK and in certain overseas locations. The Group's revenue is earned through interest and fees on a broad range of financial services products including current accounts, savings, mortgages, credit cards, motor finance and unsecured loans to personal and business banking customers; and lending, transactional banking, working capital management and risk management services to commercial customers.

Lloyds Bank plc: 2024 Half-Year Results

Half-year results from Lloyds Banking Group PLC (LSE:LLOY) were pretty much in line with expectations, but analysts felt the market was likely to be disappointed that margin guidance was not raised. The results included a second-quarter underlying pre-tax profit of £1.74 billion, which was 6% ahead of consensus forecasts.

Lloyds disappoints with lack of guidance upgrade, say analysts

HSBC Holdings

Lloyds Banking Group PLC (LSE:LLOY) and HSBC Holdings PLC (LSE:HSBA) are among four banks to have been sent letters by the UK competition watchdog after breaching retail banking rules. Lloyds failed to publish the location of hundreds of ATMs through open banking APIs, while HSBC published incorrect values for its monthly maximum charge on some of its "multi-function devices" that are replacing ATM machines.

Lloyds and HSBC wrists slapped by competition watchdog over ATM failures

Lloyds Banking Group PLC (LSE:LLOY) reported a fall in first-half profits but hiked its interim dividend 15% and kept full-year guidance unchanged. Statutory profit before tax from the UK's largest lender came to £3.32 billion for the first six months of 2024, slightly ahead of the £3.21 billion average analyst forecast.

Lloyds hikes dividend 15% as first half profits just beat forecasts

Lloyds Banking Group reported a 14% fall in first half pretax profit to 3.3 billion pounds ($4.25 billion) on Thursday, broadly in line with forecasts, as lending margins held firm in the face of mounting competition.

Lloyds posts falling H1 pretax profit, lending margins hold firm

Banks and building societies will be required to make sure local communities have adequate access to cash as part of new regulations from the Financial Conduct Authority (FCA). Starting from 18 September, lenders must assess whether local areas lack essential services such as branches and ATMs and take action to address any significant gaps.

Lloyds, NatWest and rivals to ramp up cash services under new rules

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Lloyds Banking Group PLC (LSE:LLOY) kicks off the UK bank reporting season next week with, for once, City analysts suggesting it's not the best of the bunch. Having acquired former building society Halifax, mortgages are a big part of the business and volumes are expected to remain low until interest rates decrease.

Lloyds shaded by Natwest as interims approach, say brokers

Shares in Lloyds Banking Group PLC (LSE:LLOY), Barclays PLC (LSE:BARC), NatWest Group PLC (LSE:NWG) and HSBC Holdings PLC (LSE:HSBA) all traded lower in Friday's early deals amidst uncertainty over the potential disruptions caused by a global IT outage. A cloud services outage overnight caused chaos in the US.

Lloyds, Barclays, NatWest and HSBC shares fall as IT outage impacts banks

LONDON--(BUSINESS WIRE)--Lloyds Bank and Oaktree Capital Management, L.P. have today announced a strategic partnership (the “Partnership”) to support UK middle-market sponsor-backed borrowers. Lloyds Bank Structured Debt Finance team will partner with Oaktree's European Private Debt platform to provide clients with a comprehensive senior debt solution for new buyouts and refinancings with term debt, acquisition and working capital facilities in addition to agency and full ancillary product serv.

Lloyds Bank and Oaktree Partner to Launch a New Direct Lending Facility

Shares in fintech group TruFin PLC (AIM:TRU) tumbled 32% in the first hour of trading after it emerged that its Satago Financial Solutions business had seen the early termination of an agreement with Lloyds Banking Group PLC (LSE:LLOY). Satago was providing the high street lender single invoice finance and whole-of-book invoice factoring services.

TruFin shares down 32% on Lloyds blow

Lloyds Banking Group PLC (LSE:LLOY) plans to expand its private rental housing arm into social housing, while also converting some of its disused office sites into more affordable housing. The UK's largest lender is selling a former data and office space in Pudsey, West Yorkshire, to a housing developer with the agreement that 80 new homes will then be rented at about half the usual rate.

Lloyds Banking expands into social housing

Lloyds Banking Group PLC (LSE:LLOY) is tightening the use of taxis and business class flights for its staff as part of a cost-cutting drive. The UK lender will alter these travel policies across its 60,000-strong workforce to control expenses and reduce its carbon footprint.

Lloyds limits staff travel as it cuts costs

Deutsche Bank

An Insurance Insider report last night that Hiscox Ltd (LSE:HSX) has received bid approaches takeover interest from Generali and Sompo should come as no surprise, analysts at Deutsche Bank suggest. “Regardless of whether this turns out to be substantiated or not, we are not surprised by the emergence of M&A speculation within the sub-sector,” analysts at the German bank said.

Hiscox bid talks 'no surprise' says Deutsche Bank as Lloyds insurers look bargains

This Labour government poses little threat to the UK banks, according to analysts as Wall St bank Citi. Near-term implications from a Labour government are limited, Citi adds, with this quarter tipped to mark the trough for UK domestic bank NIMs [net interest margins].

Lloyds, Barclays and Natwest have little to fear from new government, Citi suggests

JP Morgan analysts have reiterated their positive outlook on UK banks, particularly highlighting Natwest Group PLC and Barclays PLC (LSE:BARC) as top picks in the sector. After meetings with senior leadership for the leading operators, it highlighted the duo because of their resilient profit margins, strong cash generation, and high returns.

NatWest and Barclays top UK banking picks of US investment bank, Lloyds could struggle

Lloyds (LON: LLOY) share price has stalled in the past few weeks as investors focus on the upcoming UK election and Bank of England (BoE) interest rate decision. It was trading at 55.6p on Monday, down by almost 3% from its highest point this year.

Lloyds share price could be at risk of a harsh reversal in July

Keefe Bruyette & Woods (KBW) remains a fan of Lloyds Banking Group PLC (LSE:LLOY) after taking a closer look at the business banking arm, which contributes about 15% of the group's earnings. This follows a seminar where Lloyds showcased its strategies for digitisation and diversification, drawing favourable comparisons to Barclays' offerings for small and medium-sized enterprises (SMEs) and mid-sized companies.

Lloyds Banking Group shares up 2%; US investment bank a fan

Lloyds Banking Group is set to make an extra 300 million pounds ($380 million) a year in revenue by 2026 from its business banking unit, CEO Charlie Nunn said on Thursday, as corporate confidence picks up in Britain despite challenges.

Lloyds CEO expects $380 mln UK business banking revenue boost

Homeowners with mortgages should not expect a return to the ultra-low interest rates enjoyed in the aftermath of the global financial crisis, Lloyds Banking Group PLC (LSE:LLOY) boss Charlie Nunn said. The chief executive of the UK's biggest lender also said that whichever party wins next week's general election will be extremely limited in how much they can invest due to increased levels of government debt in recent years.

Lloyds boss says 'don't expect mortgages to return to ultra low rates'

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Lloyds Banking Group PLC (LSE:LLOY) rating was unchanged by RBC whilst its analyst team lifted its sights for NatWest Group – with the price target moving to 360p from 355p. NatWest, which this week was paid to make an acquisition, is benefiting from a better-than-expected net income environment, according to RBC, which pointed to the UK banking sector seeing ‘some growth in deposits' and a ‘further slowdown in migration to interest-bearing accounts'.

Lloyds Banking Group and NatWest supported by ‘better than expected' interest rate environment - analyst

Toronto-Dominion Bank

Investors with an interest in Banks - Foreign stocks have likely encountered both Lloyds (LYG) and Toronto-Dominion Bank (TD). But which of these two companies is the best option for those looking for undervalued stocks?

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