Lloyds Banking Share Discussion Threads

[utrickytrees] 20/2/2020 12:16

So you appreciate Merkel was wrong to open the flood gates to immigration but resent the brexiteers for wanting control of their borders. An apt analogy might be objecting to flood defences in favour of increased insurance premiums. However you stated you were unwilling to fork out any more for insurance only a few days ago. Your a rum lad M2! but you've got no consistency, you think government policy should revolve around your investments lol.

[kkclimber56] 20/2/2020 12:01

Phillis

You are right that the provision itself is a non cash item but presumably cash is being held back to cover payouts which, in the event some of the provision is not required, can be released

[kkclimber56] 20/2/2020 12:01

Phillis

You are right that the provision itself is a non cash item but presumably cash is being held back to cover payouts which, in the event some of the provision is not required, can be released

[mitchy] 20/2/2020 11:59

Once again lloy have surprised to the upside .Well done on covering your short and well done on your barc trade so far. Had funds in place for lloy but ,like you ,I saw barc as being unfairly punished after their results and was very tempted. But I felt sure lloy would be similarly punished ..doh..wrong again.So still have funds in place but keeping it in reserve because of Brexit deal and possible problems UK US deal. Overall I see the UK economy being robust with a possible EU deal , which could come at any time not necessarily year end . We are seeing increased US investment here and a healthy mortgage market. Reasons to be cheerful. Corvid 19 new cases seem to be flattening . Sterling off a tad.Good Luck.

[corby3] 20/2/2020 11:57

Minerve2

Brexit voters may be beneath you in your mind, but not in the real world. Brexit has happened, we are now in the transition period, get used to it or you will be left behind.

If you are a proper investor and not just a blowhard, always remember that the trend is your friend. The trend as from January 31st at 11pm GMT is Brexit, go against it and you will fail.

[minerve 2] 20/2/2020 11:42

"whose mummy should have taught him he should respect others."

Others need to earn it. ;)

[minerve 2] 20/2/2020 11:39

Hey Bargain, I hope you bought into CSP and MGNS since my advice. Both looking strong. MGNS reporting strong results today. MJ Gleeson is another one you might want to look at. Bear in mind that earnings quality is poor in all these stocks. Poor in the sense that the housing market/construction could quickly turn - especially when you have dorks like Patel trying to control immigration numbers. Jack be nimble, Jack be quick.....

[phillis] 20/2/2020 11:34

M4
why?

the provision is surely a non cash item
any overprovision that is released doesnt make more cash available

[minerve 2] 20/2/2020 11:32

I don't just look at Brexit voters as if they are beneath me, I KNOW THEY ARE!

[crossing_the_rubicon] 20/2/2020 11:31

@Mr Elbee,

"Interest rate rise in summer"

Really?

A quarter point only one presumes.

On what pretext?

Inflation rising?

Suspect we'll be well into a Supply Chain led economic slowdown by then...

And CB's will be QE'ing as much as possible.

[minerve 2] 20/2/2020 11:30

corby3

I agree that Merkel should not have done what she did with the immigrants. She was behaving like God, acting without mandate, and abusing her authority. It is one of the lead issues that I think empowered Brexit indirectly. Having said that though I don't think it was enough to throw ourselves off a cliff for and it was a very unselfish and mature thing to do. Sadly most humans are not up to meeting those values. Whatever we do, whatever immigration policies we have, the problem will NEVER be resolved until a few things have been established that seem beyond the gammons to comprehend.

[m4rtinu] 20/2/2020 11:22

On PPI: Lloyds unused PPI provision of £1.6bn at 31 Dec 19. In Q3, (last published figs for total PPI claims; all providers, NOT just Lloyds), the average total per month was £400m. Lloyds is thought to be liable for about 50% of this. Assuming some tapering in the total by Dec to £300m, implies Lloyds would be shelling out, until all PPI payments settled about £150m per month.

So the unused provision at that rate would possibly cover just over 10 months, ie to Oct 2020. It is not unlikely that PPI payments will reduce more quickly and the settlements will be completed sooner. So as someone said above, there should be some residual unused provision which could potentially be given back to shareholders. I would guess between £500m and £700m. Perhaps as much as 1p per share, were it to be used for this.

[mr.elbee] 20/2/2020 11:18

there will be an interest rate rise in the summer too,IMHO, because of the boom that will result from Boris' spending plans that the new Chancellor is already rubber stamping.

[wendsworth] 20/2/2020 11:13

mitchy : your post 394 - extricated myself right at the off with a resultant loss of £18 plus dealing charges . Slept better with my short in place !! Better safe than sorry. Have been 'gung ho'..before ...often at considerable cost! Made a further purchase at 56.44 ...doubled my holding . So now intend to 'bank' (pardon the pun!) some tasty dividends in BARC, RBS and LLOY! Incidentally, BARC goes ex on 26/02.

[jordaggy] 20/2/2020 11:07

Go and have a lie down m4, you deserve it.

[corby3] 20/2/2020 11:05

The German gun nut was a far right extremist, probably used to be a decent quiet German citizen whose life was disrupted by Mrs Merkel's neo lefty liberal policies.

Merkel let over a million into Germany, which I suppose is still about 4 million less than Tony Blair let into the UK.

[m4rtinu] 20/2/2020 11:04

AR #3

"The impairment charge increased to £1,291 million with the increase primarily driven by two material corporate cases in Commercial Banking, along with some weakening in used car prices in Black Horse."

And finally, as I am losing the will to live and anyone who might still be reading is getting very bored. On PPI

"The PPI provision charge of £2,450 million was largely due to the significant increase in PPI information requests (PIRs) leading up to the deadline for
submission of claims on 29 August 2019, and also reflects costs relating to complaints received from the Official Receiver as well as administration costs.
An initial review of around 60 per cent of the five million PIRs received in the run-up to the PPI deadline has been undertaken, with the conversion rate
remaining low, and consistent with the provision assumption of around 10 per cent. The Group has also reached final agreement with the Official Receiver.

The unutilised provision at 31 December 2019 was £1,578 million."

[jordaggy] 20/2/2020 11:02

What we want is a huge increase housing churn, great for the economy.

[pal44] 20/2/2020 11:01

Min re Patel sees herself as 'white skin'. err Coconut no !

[mr.elbee] 20/2/2020 10:59

so why will the MSM ignore it,xxxxy, when you ring them up?

The MSM are the problem ,now that the politicos have been dealt with ,and the Civil servants very soon.

[poikka] 20/2/2020 10:58

Good for Saima Afzal and Maryam Batan to stand up for themselves, and against the Asian establishment.

[dennis russell] 20/2/2020 10:58

2020 will probably see an accelerating trend for house sales and therefore Mortgages, which should be good for LLOY

[mr.elbee] 20/2/2020 10:56

I agree with you Ekuuleus...but my point is that when you become expert in one thing you think you can walk on water..Time and again we see this with Civil Servants and Ministers and CEO's ..... good at one thing..flattered and moved around ..then disaster. No.it isnt practical and intelligent ..but it is the "world of the expert"