Lloyds Banking Share Discussion Threads

[utrickytrees] 18/4/2024 22:55

A Home Office case worker has been arrested on suspicion of trying to sell UK residency to an asylum seeker living in Northern Ireland. The official, who has been suspended by the Home Office, allegedly contacted a vulnerable man and asked for £2,000 in return for approving his refugee application.13 hours ago

[scruff1] 18/4/2024 22:31

Its the letting one naughty boy off by the weak teacher as the prelude to total loss of control of the whole class syndrome again. Not something the Israelis suffer much from but the west now knows nothing else but chaos as they have allowed anarchy groups of every kind to roam and behave and cause as much damage to a once orderly society as they like. Its always much easier to maintain order than it is to restore it once respect for authority has been frittered by weaklings.

[utrickytrees] 18/4/2024 22:24

Gekz, we milked America far too hard. America trade with the French Antilles gave them options. Currently reading Cod by Mark Kurlansky....fascinating.

[geckotheglorious] 18/4/2024 20:17

jl5006
Post 394132
Instead, the Iron Dome makes it easier for the West to turn a blind eye to endless attempted war crimes by Iran’s proxies. If an Iran-funded missile fired at Israeli civilian centres is intercepted and doesn’t kill anybody, we can pretend it never happened. If Israel strikes back at rocket launchers and kills some Hamas fighters, it can be blamed for a “disproportionate response”, demonised as the real aggressor


Precisely. It is time the West held Iran directly responsible.

[marktime1231] 18/4/2024 20:09

No plans as far as we know.

It is so big I don't think any one UK life insurer could take it all on.

[alphorn] 18/4/2024 18:13

mt - are Lloyd's selling off their DB pension plan?
(à la Boots).

[marktime1231] 18/4/2024 18:08

Just checked the legacy group pension situation, memory was not so bad after all, me 1 v 0 Alzheimers.

During 2022-3 LLOY had to allocate £1.4B to offset liability. The final deficit payment was late '23 - early '24 at £250M and has now been cleared. Through 2024 and 2025 the trustee which set fixed contributions of £800M pa says they will not be required because the change in interest rate environment means the scheme will have moved in to a period of sustained significant surplus. Should the next review sometime late 2025 conclude the scheme remains healthy, or the scheme is disposed of, there could be nothing further to pay at all.

So that is the good news straight to the bottom line, which I don't think the so called expert analysts have reckoned with when focussing on NIM which they say will settle back to the long term average 2.8-2.9% this year.

On top of good news the proceeds from disposal of the closed pension portfolio administered by Scottish Widows, maybe a few hundred million. Offsetting the bad news where there may be more motor finance provisions to make, and misconduct remediation for providing bank accounts to sanctioned Iran petrochemical traders.

So, even if NIM does fall back to 2.8x% or 2.9x%, there is surplus cash for more dividend progress and another serious buyback or two after this one. A Q1 NIM which beats the gloomy consensus forecast would be a bonus.

[hardup1] 18/4/2024 18:06

After 38 trading days, buyback complete to date:
Total shares to date........................881,848,587
Aggregate cost to date... ..................£439,302,253.65
Average price paid to date..................49.8161
Percentage of £2 billion buyback completed..21.97%

[jl5006] 18/4/2024 17:10

DT
Instead, the Iron Dome makes it easier for the West to turn a blind eye to endless attempted war crimes by Iran’s proxies. If an Iran-funded missile fired at Israeli civilian centres is intercepted and doesn’t kill anybody, we can pretend it never happened. If Israel strikes back at rocket launchers and kills some Hamas fighters, it can be blamed for a “disproportionate response”, demonised as the real aggressor, making it even easier for the West to downplay Iranian aggression. It’s a Kafkaesque state of affairs, where actions and intent don’t count.

This madness has been pushed to new extremities this week: in what would ordinarily be deemed a historic act of war, Iran fired off hundreds of ballistic and cruise missiles on Israel. Yet because 99 per cent were shot down, the official line is that the attack must have been merely “performative”, and can be committed to the memory hole. Tehran warned various countries that it was about to strike – not least because it would be violating their air space – but telling somebody in advance that you are going to attempt to murder them is no defence.
Says it all about the us US and its toy uk

[marktime1231] 18/4/2024 13:31

Trying to remind myself. The pension scheme turnaround means that we do not have to make £400-500M pa catchup contributions, and the surplus is so strong and headed further in the right direction we don't need to make routine £800M pa contributions for a couple of years either. Have I remembered that right?

If so it makes an enormous difference to the money available to LLOY for whatever purpose. Provisions, buybacks, dividends, investment in riskier pe / vc type opportunities, acquisitions, development of the wealth management business, etc etc.

[chris magpie] 18/4/2024 13:20

The elimination of pension fund deficit is a big advantage these days with so many other historic final salary schemes still in deficit.

[jordaggy] 18/4/2024 12:02

Exactly H1 and as an aside, I intend to leave my sipp to the Gkids...

[hardup1] 18/4/2024 11:39

noramping.....if the share price stays around 50p for 2 years then more shares will be bought and cancelled by the buyback resulting in a larger reduction in total share count. So this should raise EPS which should in theory lead to higher dividends going forward.

[noramping] 18/4/2024 11:23

Jord, if the share price goes up your investment goes up, the income may reduce as a percentage but the income amount would be the same wouldn’t it.

No logic in your argument