UK banks get hiked ahead of sector's dividend 'Freedom Day'
Some analysts think banks will wait until the year-end to declare special dividends
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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Some analysts think banks will wait until the year-end to declare special dividends
The Bank of England's Prudential Regulation Authority is due to give an update in the coming weeks on whether banks can resume dividend payments
Analysts at the investment bank said stocks in the sector were “attractive” amid an improving economic and interest rate outlook for the UK
There are 29 Lloyds branches and 15 Halifax locations for the chop in the new plans
UK domestic banks trade at a 14% discount to the European banks sector, which itself trades at a 42% discount to the European market
Nearly half of Black respondents reported having experienced racism at work, while women felt held back in their careers by “mediocre” male middle managers
UK consumer activity remains strong and mortgage momentum is robust, albeit with signs of normalisation
The improved UK economic outlook and the prospect of rising interest rates are positive for the UK banking sector
The SNP failing to gain a parliamentary majority and the Bank of England's improved UK economic growth forecasts are significant for the banks, the analysts said
Three heavyweight banks have provided their analysis
"The bank will be left with a still substantial capital pile even after resuming payments"
There was a £1.75bn bad debt swing in the bank's favour
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Other firms in the diary for Wednesday include housebuilder Persimmon, British American Tobacco and Dixons Carphone
Mortgages and investment banking have been strong areas in recent months
The handsome Portugeezer - António Horta-Osório (not Jose Mourinho) - might be tempted to clean house when he takes over as chairman of Credit Suisse next month
“The loss we report this quarter, because of this matter, is unacceptable,” said chief executive Thomas Gottstein
The government is offering lenders a guarantee so that buyers will only need 5% of the value of a home as a deposit
Shore Capital has buy recommendations on Barclays, Lloyds Banking and Standard Chartered
The meme-inspired currency now has a market cap equivalent of around £34.7bn after rising around 192% in the last 24 hours
It is likely to have been a strong quarter in capital markets