Lloyds Banking Share Discussion Threads

[gotnorolex] 12/1/2020 19:49

Hey Min what have you got to say of Cummings being in sole command of obliterating the Socialist Labour Party by redrawing constituency boundaries? Labour's red wall already breached!

The 2018 Boundary Review made proposals for a new set of boundaries which are fairer and more equal, reflecting geographic factors and local ties. TM just didn't dare try getting them through Parliament. Boris can do what he likes!

[gaffer73] 12/1/2020 18:52

Let's hope not. It's the new quarterly payments after the final this year too.

[patientcapital] 12/1/2020 18:34

US President Donald Trump on Sunday repeated warnings that Iran should not target anti-government protesters, saying, "the World is watching. More importantly, the USA is watching".

[bargainbob] 12/1/2020 18:27

Jacko still waiting your advice on beans .

[jacko07] 12/1/2020 18:12

Carney said whatever the people who really owned him asked him to say. Who owned Carney? Carney along with many others in World Finance will always be owned by Goldman Sachs, who are without doubt the most corrupt organization in the World today..bar none.

Read this link and check out the names and their positions in the Global establishment. Goldman Sachs have been involved one way or another is every dodgy financial deal from bringing Greece into the EU to the collapse and bail out of the USA in 2008/9 with Hank Paulson.

[minerve 2] 12/1/2020 18:11

Of course you would know all about pound shops wouldn't you Jacko. ;)

[jacko07] 12/1/2020 17:58

Burns is just a pound shop Shakespeare.

Utricky...Burns was a master of ad lib, he was really funny with Walter Matthau in 'The Sunshine Boys'.

[keifer derrin] 12/1/2020 17:08

lets hope PPI and Reading issue doesn't hit divi payout.



Lloyds Banking Group has warned its 60,000 staff including the chief executive, António Horta-Osório, to expect their first bonus cut in four years after a number of problems at the bank, including a last-ditch surge in payment protection insurance (PPI) claims.

The Guardian understands staff received a memo from the bank telling them to expect a smaller bonus pool shortly after the bank revealed a £1.8bn charge linked to a spike in PPI claims in October, which is expected to dent full-year profits. The charge reduced third-quarter profits by 97%.

The remuneration committee, which determines the final size of the bonus pot, allocated £464.5m to be shared between staff and top executives last year. However, the figure for the 2020 payout is likely to shrink for the first time since 2016, owing to numerous factors.


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Lloyds staff trade unions, including Accord, also notified members of the cut. “The group has made clear that group performance share (bonus)awards in March are likely to be lower than last year,” Accord said in a member newsletter last month. The bonus is paid out in a mixture of shares and cash.

As long as group profit meets a minimum threshold, Lloyds’ bonus pool will be valued at 5.1% of full-year underlying profit. However, the pot can be whittled down by the renumeration committee if the bank is deemed to have underperformed in certain categories: financial performance, customer service, and staff conduct. Lloyds has signalled that a number of issues will see the value of the payout reduced.

Along with the extra PPI charge, the bonus figure is likely to be affected by the legacy of an historic scandal at the bank, with the company expected to place some of the blame on the outcome of an independent review into the compensation scheme for victims of fraud at the HBOS Reading branch. In December, Lloyds pledged to reopen the scheme after the review found the original programme was “neither fair nor reasonable”.

Another staff union, Affinity, told its members in a newsletter last week: “The ongoing PPI payment scandal and the HBOS Reading disaster, to name just two, will be cited as reasons why the bonus pot is being adjusted downwards.”

Accord’s general secretary, Ged Nichols, warned that Lloyds staff “should not be penalised for issues that are outside their control”. The Unite union also said a potential cut would disproportionately hurt less-well-paid staff who already receive smaller payouts as a proportion of salary.

“Any reduction in bonuses has a disproportionate impact on ordinary workers and especially on lower-level workers, many of whom are just about managing to make ends meet,” Rob McGregor, a national officer for union Unite, said.

The minimum wage for full-time staff is £17,510. Boss Horta-Osório was paid £6.3m last year, including a £1.2m group performance bonus. He is eligible for bonuses worth up to 140% of his salary, while fellow executives take home up to 100%.

Lloyds said: “No decisions have been made. As usual, all decisions on remuneration will be taken by the remuneration committee as part of the annual process.”

This will be the first year that Lloyds is evaluating bonuses based more heavily on team performance than individual work. Teams will be allocated bonus pots that managers will then dole out based on collective contributions, behaviour and salary levels.

The bank is also starting a new process for contesting payouts that bypasses the formal grievance process, which usually involves union representation. However, staff can still choose to file a grievance if they suspect discrimination.

Bonus are expected to be paid out in April, about six weeks after full-year results are announced on 20 February.

[philanderer] 12/1/2020 17:01

'Bank of England policy-maker hints at possible rate cut'

....Mr Vlieghe is the third policy setter this week to suggest they may be willing to cut rates when the Monetary Policy Committee (MPC) next meets at the end of this month.

[minerve 2] 12/1/2020 16:36

Of course you would be an expert on all that.

That is why Carney wasn't BofE governor and you were. ;)

[freddie01] 12/1/2020 16:14

Lloyds warns staff to expect first bonus cut in four years

Exclusive: Notice comes late surge in PPI claims hits banking group

[utrickytrees] 12/1/2020 16:12

M2 at some point you have erected a massive hurdle between reality and your interpretation of it.

[gotnorolex] 12/1/2020 15:56

If you're talking about Cummings, too many cooks in the Civil Service , we now have a Chef de Cuisine to make the broth sweeter!

[minerve 2] 12/1/2020 15:44

You have all absolutely missed the point. Whether he is right or wrong about something is irrelevant. Whether something needs to be done or not is irrelevant.

We have officials and elected representatives to manage these issues and responsibilities and, normally, one would expect accountability to go hand-in-hand.

He is entitled to his opinion but government and parliament should be making decisions on these. Not just one man.

[gotnorolex] 12/1/2020 15:36

Like Corbyn they lost the vote, now claiming they won the argument, and want another vote because they weren't given the full facts! If they won the argument and lost the vote, logically they would have to loose the argument to win a vote!
Nonsense? of course it is!
Boris is planning to “love bomb” Scotland! Better together!

[utrickytrees] 12/1/2020 14:23

Telegraph on Carneys departure.

A big play was made of his commitment not to raise interest rates until unemployment dropped below a certain level. In the events this level was reached in months. Mr Carney spent the next several years finding other reasons not to raise rates. earning him the sobriquet of 'the unreliable boyfriend's

Never mind Whitehall, Cummings needs to get stuck into the BoE.

[gotnorolex] 12/1/2020 14:04

What Eton did for him, Cummings will do for the Civil Service! "Put Britain back on the Waves" with Boris as King! (The feel good factor is back so lighten up!)

[utrickytrees] 12/1/2020 13:48

Absolutely g2.