Lloyds Banking Share Discussion Threads

[stevensupertrader] 24/4/2024 15:26

Coming to the close of trading , more sellers selling and gathering momentum.
Manipulation can only work for awhile

[stevensupertrader] 24/4/2024 15:00

All manipulation by the Big boys . Q1 result really bad - now share price back to earth - no one can buck the trend or defy gravity .
Those who went in to buy over 52p - now nursing with a loss .

[kawah2a2] 24/4/2024 14:42

Thought it would drop to 47p on results. Happy to be wrong

[jubberjim] 24/4/2024 14:16

Had dentist appointment this am

Got away with it this time

No real damage and got paid for a small chunk at 53 giving me much needed liquidity

So back on the prowl

Happy daze is here again aided and abetted by Marston's finest

Good luck everyone how long will it last

[freddie01] 24/4/2024 14:12

Miller Homes and Citra Living partner on Priorslee units



Miller Homes and Citra Living, which is part of Lloyds Banking Group, have partnered to create 100 private rented sector units in Priorslee, Telford.

The 100 units for Citra at Miller Homes' Roman Croft development will be completed in two phases, with 46 in the first phase and 54 in the second.

Handover is expected to be completed by July 2026.

Danny O'Connor, divisional managing director at Miller Homes, said: "We are pleased to have agreed a deal with Citra Living to deliver 100 homes for the private rented sector in Priorslee, and hope this forms the foundation for many more in the future.

"Miller Homes' Roman Croft development offers residents a blend of thriving town life and picturesque countryside living, with easy access to both Wolverhampton and Birmingham, and the Shropshire Hills on the doorstep."

Matthew Bench, group managing director – partnerships at Miller Homes, said: "Building private rented sector homes as part of our business model, like these for Citra Living, allows us to continue diversifying our portfolio, while creating new opportunities for land acquisition and supporting our overall growth ambitions to 6,500 homes per year."

Andy Hutchinson, chief executive of Citra Living, added: "Working with Miller Homes to deliver these more energy efficient new homes supports the delivery of our goal to help more people live in the place they want and in the kind of modern home they want to live.

"By teaming up with experienced, forward-thinking housebuilders, like Miller, we can bring more, better quality homes in great locations to the market more quickly."

[mr.elbee] 24/4/2024 13:56

and most of them may not be actual men

[utrickytrees] 24/4/2024 13:49

Weak cowards proliferate the upper echelons of most organisations because they're easy to manipulate.

[chinese investor] 24/4/2024 13:01

5p to 58p !

[marktime1231] 24/4/2024 12:51

Not adjusting motor finance provisions until the FCA report in September. Fair enough. Other impairments and provisions were modest. The rise in operating costs is rowing against the narrative that LLOY is the cost-efficient UK bank.

Curious that LLOY is basing its expectations for the year on inflation hovering around 2.3% so slightly above target, and yet they are bullish on BoE expecting three x quarter point interest rate cuts. 0.3% economic growth, a 1.5% rise in house prices. Which is all fine. But they see unemployment growing to 4.8% from 4.2% which presumably drives impairments.

I can't see where LLOY spell out that NIM has fallen to 2.95%, nor what they report as eps and tangible value-per-share figures, can anyone draw me to those details?

[skinny] 24/4/2024 12:48

The profit squeeze had been well reported over the last week or so and hopefully bodes well for NWG & BARC.

[jordaggy] 24/4/2024 12:45

Lloyds profits fall as competition for mortgages heats up
Pre-tax profits drop to £1.6bn between January and March, down from £2.3bn last year.

Kalyeena Makortoff Banking correspondent

Lloyds Banking Group has suffered a 28% drop in first-quarter profits amid tough competition for mortgages and savings, but bosses said they expected those pressures to soon ease, helped by an improving UK economy.

The country’s largest mortgage lender, which also owns the Halifax brand, said pre-tax profits dropped to £1.6bn between January and March, having fallen from £2.3bn last year when rising interest rates boosted the lender’s profits by almost 50%.

The bank’s chief financial officer, William Chalmers, said this reflected “keen pricing in the mortgage markets, and savings moving into higher rate accounts”. Competition and jitters in the mortgage market led to a drop in its total outstanding loan book.

It resulted in a 10% drop in net interest income, which accounts for the difference in loan charges versus what is paid out to savers, to £3.2bn in the three months to March.

Pressure from politicians and regulators to pass on interest rates to savers at the same rate they had been raising mortgage and loan charges has squeezed income for major mortgage providers such as Lloyds in recent months.

In response, banks have had to compete harder for customer deposits by offering more substantial returns, particularly on fixed savings products where consumers lock away cash for longer. It attracted £1.3bn in regular customer deposits but that failed to make up for the £3.5bn pulled by business clients.

However, Chalmers said these savings and mortgage pressures were likely to “ease through 2024”, as economic conditions continued to improve.

House prices, which Lloyds previously expected to fall by 2.2% in 2024, are forecast to rise by 1.5% by the end of the year.

The banking group, often seen as a bellwether for the UK economy, is also forecasting a steady improvement in economic growth, at a rate of 0.3% in most quarters and a drop in inflation to 2.4% – from 3.2% in March – resulting in a fall in interest rates to 4.5% by December. It expects the Bank of England to cut rates three times in 2024, starting in the middle of the year.

Chalmers said mortgage applications had already soared by 20% in the first quarter, which could translate into new home loans, and reverse some of its loan book losses. That partly reflected the group’s willingness to offer better interest rates in order to boost lending.

“We’re really pleased to see the pickup in applications, and development of our market share, in that respect. And I think that represents what is a series of competitive offers out there in the market, suiting our customer needs. We’d hope to maintain that ambition over the course of the year,” Chalmers said.

Overall, the banking boss said he expected the UK mortgage market to pick up by 5% by the end of 2024. “We’d hope to play a major part in it,” Chalmers added.

The improved economic outlook meant the bank was more confident that customers could repay their loans. Despite the cost of living crisis and higher mortgage repayments, which have weighed on borrowers, Lloyds set aside £57m for potential defaults, compared with £243m last year.

The Lloyds chief executive, Charlie Nunn, said: “The group is continuing to deliver in line with expectations in the first quarter of 2024, with solid net income, cost discipline and strong asset quality. Our performance provides us with further confidence around our strategic ambitions and 2024 and 2026 guidance.”

Investors had also been hoping for updates on the Financial Conduct Authority investigation into whether consumers have been charged inflated prices for car loans. Lloyds, which has the largest car loan division of the four biggest UK banks, has already put aside £450m – far short of the £2bn that analysts believe it could be on the hook for.

However, Lloyds did not give any more details about whether it might put aside more cash to cover potential fines or compensation for customers. The FCA has indicated that it will give more details on its findings by the autumn.

[smurfy2001] 24/4/2024 12:38

Natwest wants to kiss 300p.
Barclays wants to kiss 200p.

[diku] 24/4/2024 12:12

How did those migrants get fireworks?...and they carrying sticks...how come those migrants were intercepted by British coast guards...that report showing French police already there and seeing migrants doing a runner...so where were the French coast guards...didn't they radio the French coast guards...

[gotnorolex] 24/4/2024 12:08

With Putin for sure!

[mr.elbee] 24/4/2024 12:06

it was all just a shake

[mr.elbee] 24/4/2024 12:04

are we now at war with Russia officially? And will we get locked up if we protest against it?
WE HAVE A RIGHT TO KNOW!

[nemesis6] 24/4/2024 11:02

If sunak thinks rwanda is such a great idea....pay for it himself with wifeys pocket money from daddy lol

[datait] 24/4/2024 11:00

That's me out don't want to to be greedy 😂

[mikemichael2] 24/4/2024 10:52

Also shown just the other day of those boats leaving, the gang leaders were clearly visible and the French police just stood and left them??

[chinese investor] 24/4/2024 10:46

6p to 58p !