Lloyds poised to begin £1bn share buyback - report
Lloyds has more than £4bn in surplus capital and rivals Barclays, HSBC and Standard Chartered all bought back shares last year
Company
LON:LLOY
Lloyds Banking Group has many household names like Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers. The Group’s main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. The Group operates the UK’s largest retail bank and has a large and diversified customer base.
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Lloyds has more than £4bn in surplus capital and rivals Barclays, HSBC and Standard Chartered all bought back shares last year
Royal Dutch Shell, Lloyds, and BP were the three most voted companies in 2021
New Lloyds boss Charlie Nunn's upcoming strategy day "could see higher cost guidance"
Customers at all three banks were tweeting complaints after being denied access
If a bank board wanted the basis upon which to slow the return of the excess capital, this stress test "proves apt", said analysts at UBS
The lender’s new chief executive was recently reported to be planning to drive a new phase of growth based on an expansion of commercial banking and other businesses
Financing the transition to net zero is another reported area of focus, along with broadening support for the bank’s international clients, including building out its New York office
Lloyds recently announced 48 more of its branches were to be shut, Santander plans to shut 111, HSBC 82 and Barclays 63
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Smiths Group held an online capital markets event today in which it sought to outline how the group will “accelerate growth and deliver better execution through a focused approach”.
Standard Chartered and Barclays are seen as offering the most upside, with NatWest the least
“With rate hikes a matter of time, we continue to see UK banks as well-positioned to benefit from rising rates"
Deutsche Bank is a big fan of shares in the black horse lender
A total of 16 of the 24 analysts covering Lloyds are part of its fan club
The German bank has set a 60p price target for its British peer
There was nary a word from Lloyds new boss Charlie Nunn about shareholder returns unlike counterparts at HSBC and Barclays
New boss Charlie Nunn said the board is developing the “next evolution” of Lloyds’ strategy and longer-term priorities
At the close, the UK blue-chip index was 3.80 points, or 0.1% lower at 7,249.47, just below the day’s peak of 7,257.85 and well above the session low of 7,219.71
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Shell and Lloyds are among the notable names in the schedule for Thursday.
Third-quarter numbers are due from Lloyds on Thursday and NatWest on Friday
The closures comprise several Halifax branches, which fall under the Lloyds Banking Group brand.