Share Name Share Symbol Market Type Share ISIN Share Description
Lloyds Banking Group LSE:LLOY London Ordinary Share GB0008706128 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.33p -0.50% 65.67p 65.73p 65.76p 66.19p 65.15p 65.97p 182,084,441 16:35:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks 34,237.0 5,275.0 4.4 14.9 47,670.69

Lloyds Banking to Sell Irish Residential Mortgage Portfolio to Barclays for GBP4 Billion

18/05/2018 7:48am

Dow Jones News


Lloyds (LSE:LLOY)
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   By Ian Walker 
 

Lloyds Banking Group PLC (LLOY.LN) said Friday that it is selling its Irish residential-mortgage portfolio to Barclays PLC (BARC.LN) for 4 billion pounds ($5.4 billion), as part of its strategy to become a low-risk, U.K.-focused bank.

Lloyds said the deal is expected to complete in the second half of this year, and that it will use the money raised for general corporate purposes.

It said the bank will book a pretax loss of GBP110 million from the sale in its accounts for the first half.

The portfolio had gross assets of GBP4.3 billion, of which GBP0.3 billion are impaired, Lloyds said. In the year ended Dec. 31 the portfolio generated a pretax loss of GBP40 million.

 

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

(END) Dow Jones Newswires

May 18, 2018 02:33 ET (06:33 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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