Lloyds Banking Share Discussion Threads

[cheshire pete] 31/7/2019 20:38

Anyone else noticed the Brexit countdown clock top left hand corner on SKY News? Of course you won't see that on the Beeb....they're still hoping to stop Brexit.

[smartypants] 31/7/2019 20:12

Do both
You might get paid out twice, nobody checks these things!

[alphapig] 31/7/2019 20:00

Guys, should I claim to lloyds direct, don't want a ppi firm taking a slice?

[eurofox] 31/7/2019 18:57

i suspect this will be heading towards 50p to test resistance there.

[sarkasm] 31/7/2019 18:53

Lloyds Bank is receiving more than 190,000 PPI requests each week and has set aside an additional £550m for claims
The banking group has earmarked £1.1bn to meet PPI claims
PPI Martin Lewis
PPI, as we have been told by everyone from Martin Lewis to the disembodied head of Arnold Schwarzenegger, was an insurance product that banks and building societies attached to loans, credit cards, mortgages and other forms of debt (Photo: Financial Conduct Authority/PA Wire)
Rhiannon Williams Rhiannon Williams 2 hours Wednesday July 31st 2019
The i newsletter
News for free thinkers

Lloyds Bank has set aside an additional £550m to meet payment protection insurance (PPI) claims as customers rush to file for compensation in the closing weeks of the scheme.

The bank has earmarked a total of £1.1bn to reimburse customers who were incorrectly sold PPI as far back as the 1970s, and said it was dealing with a “significant increase in claims”.

George Culmer, Lloyds‘ chief financial officer, said it was dealing with more than 190,000 requests each week, up from an average of 70,000 requests over the same time period.

“It’s obviously disappointing to see an increase in PPI claims. On one hand, we were happy to see the time bar as it meant more customers would come forward, and we’re glad that it’s having the desired effect,” he told the BBC.
The animatronic head of Arnold Schwarzenegger, star of the FCA's campaign to remind people to check whether they had PPI
The animatronic head of Arnold Schwarzenegger, star of the FCA’s campaign to remind people to check whether they had PPI
PPI deadline

The Financial Conduct Authority (FCA) estimates as many as 64m PPI policies have been sold in the UK, with the majority sold between 1990 and 2010.

The insurance was designed to protect the borrower when they were unable to make loan repayments in certain circumstances, including being made redundant or couldn’t work due to illness, an accident, disability or death.

Read More:

PPI deadline: How to check and make a claim before time runs out on 29 August

Millions of policies were mis-sold to people who could not use or did not need them, and more than £33bn has already been paid back to claimants.

Of the 190,000 weekly PPI requests Lloyds receives, around 10 per cent are converted into claims, Mr Culmer added. Lloyds has paid more than £20bn in PPI claims to date.

Customers have until 29 August to claim for compensation by contacting the provider who sold them the policy.

The FCA has run an advertising campaign featuring an animatronic likeness of Austrian actor Arnold Schwarzenegger since last year encouraging consumers to check if they are owed money.

Lloyds’ pre-tax profits fell 7 per cent in the six months to 30 June, from 33.1bn to £2.9bn. Shares fell nearly 5 per cent to 52.5p.

[maxk] 31/7/2019 18:39

Between a rock and a hard place..

[likeawalrus] 31/7/2019 18:23

Here's some info I have compiled on the buyback.
28.02.19 share price closes at 63.54, buyback starts 01.03.19

March 163.6m shs £103.3m av. 63.12
April 356.0m shs £228.2m av. 64.08
May 290.9m shs £175.0m av. 60.17
June 303.7m shs £175.0m av. 57.63
July 311.8m shs £178.2m av. 57.15

Total 1'426m shs £859.6m av. 60.28 (49.1% spent)

all that money spent and the share price is only 53.5p today

[xxxxxy] 31/7/2019 18:18

PPI. Government condoned theft. And government leading from the front

[xxxxxy] 31/7/2019 18:15

Tad DavisonPosted July 31, 2019 at 12:25 pm | PermalinkI'm prepared to give Boris the benefit of the doubt – for now, but the country will not tolerate any back-sliding. When he says he will take the UK out of the European Union on the 31st October, 'no ifs, no buts', we expect him to do just that, not water it down and make compromises.The Tories have got to learn that this really IS their last chance! They cannot keep dumping these con-artists upon us. If Johnson delivers, he will go down in history as one of the all-time great Prime Ministers. If he reneges on his promise, he will be possibly the shortest-serving Prime Ministers in our nation's long history, and will be down among the dregs of the past thirty years. I doubt if his ego could tolerate that.Nigel awaits Johnson's failure!

[k38] 31/7/2019 18:08

LuckyBob you may not get your independent but cash is on your way..(not)lol

[gaffer73] 31/7/2019 18:02

They probably are and that's why most are giving a price of 75p+

[bargainbob] 31/7/2019 18:01

Got a mail today to house , no name mail , just post office mail drop .
PPI , is ending claim by end of August . Think there could be one last PPI hit here.

[crossing_the_rubicon] 31/7/2019 17:56

And it's the Blacks that take advantage of such, peddling their anti white hatred and victimhood 24/7

Worst offenders.

Diane Beached Whale Abbot
David Blind as a bat Lammy.

[toon1966] 31/7/2019 17:54

True gaffer, but won't the analysts take this into account??

[gaffer73] 31/7/2019 17:48

They'll make a difference next year when they have another 1b to spend due to ppi ending.

[minerve 2] 31/7/2019 17:07

"Based on his charisma and yes a gut feeling."

His charisma might working on ageing white men, or vulnerable females with self-esteem issues, but I hardly see it being of any value to serious individuals and politicians.

[cheshire pete] 31/7/2019 17:04

Based on his charisma and yes a gut feeling. Both intangibles and therefore difficult to quantify I know.

Very much enjoyed the Lakes, thank you. There are quiet places off the beaten track too.
Agree with you re: Scotland, up there earlier in the summer and walked the 'Mullardoch 4'....a good long day out.

[vauch] 31/7/2019 16:56

Down side to the PPI ending no one will be getting chunks of dosh to buy thing with
Major slow down on the way.

[minerve 2] 31/7/2019 16:55

"Brave and risky strategy which only he could contemplate, and which he'll win imho."

Based on what facts? Just a gut feeling?

I hope you enjoyed the Lake District. Personally, I would travel further and into Scotland. Galloway is much quieter, Lake District can be a bit of a circus.

[minerve 2] 31/7/2019 16:51

Investing is all about value of net assets and future cash flows. If you can't read accounts or you don't have a reasonable idea of future business than you are basically speculating, or even worse, gambling.

You don't have to be an accounts guru, just check the balance sheet and see if long-term debt is falling or gaining. See if underlying operating profits are generating positive cash flows for the business. Check leasing obligations. Those three things alone you could learn easily in a week and make you a better investor.

Ignore Shy Tott's nonsense. If he believes his own BS he will not be around for long.

I have seen hundreds of pretenders come and go over two decades on ADVFN. I have weathered the OFEX days and see plenty of fools lose millions.

My advice would be, learn some accounting, there are no short cuts to good investment.

[cheshire pete] 31/7/2019 16:44

Had a few days away in our spectacular Lake District with my wife, return home and nearly 400 posts on this BB...hope you've all been nice to each other lol.

Reading the press, much talk of foreign holiday makers being skint cos of the weak pound. Didn't anyone tell them that there's a risk that the £ could weaken after they'd booked? They should think about holidaying at home anyway now we're brexiting, no hastle at airports, rip-off car parking fees etc.

As for LLOY, it looks like the CEO hasn't 'kitchen sinked' the PPI pot, very disappointing. Now wondering if it is ever going to end, looks like the market is fed up too.

As for Boris, he's playing it the only way he can, s--t or bust and hope for the best. Brave and risky strategy which only he could contemplate, and which he'll win imho.

[k38] 31/7/2019 16:28

Over the years i have noticed that every time and after they buyback shares, in most companies, the price goes down.