Lloyds Banking Share Discussion Threads

[hardup1] 08/2/2023 06:01

Taxpayers foot £640m bill for fraudulent loans.

Worries mount over scale of losses at Covid bounce back schemes.

Loans that were potentially fraudulent accounted for close to £1 in every £6 paid by taxpayers to cover losses on a key pandemic finance scheme.

New official figures show that of the £4.1 billion the government has paid to lenders for defaulted credit under the bounce back loan scheme, £640 million worth of facilities were marked as “suspected fraud”.

The data also revealed:

Of the £77 billion worth of emergency taxpayer-backed funding provided across three pandemic loan schemes, at least £11 billion is in arrears or defaulted

Among large users of the bounce back loan scheme, Starling Bank has flagged the highest proportion of loans as “suspected fraud”. At least £695 million worth of the £1.6 billion in bounce back loans issued by the online bank are in arrears or default

Under a different pandemic scheme, Funding Circle, the listed small business lender, has been responsible for more than £1 in every £3 that has so far been claimed on the state guarantee.

On the smaller CBILs scheme, Funding Circle, the listed lending platform, has received £87.9 million from state guarantees across 706 defaulted loans. It represents close to two in five of all guarantee claims made on the scheme so far by number, and more than £1 in every £3 by value. NatWest, the largest user of the scheme, has been paid £27.7 million under the guarantee across 127 defaulted loans.

hxxps://www.thetimes.co.uk/article/taxpayers-foot-640m-bill-for-fraudulent-loans-jqz20frwp

[hardup1] 08/2/2023 05:38

drectly....."Probably not worth them paying any more due to outcry if they do."....
What about the outcry from patient share holders robbed of dividends during covid and wanting to see dividends return to pre covid levels! BOD should be acting in the interests of share holders, not public opinion.

[drectly] 07/2/2023 21:57

It will be a surprise if it is not 1.6p making 2.4p for the year. Probably not worth them paying any more due to outcry if they do. Use the extra cash for more buybacks and then keep increasing the divi at a steady rate for many years. Hopefully, they avoid doing something daft with the positive cash flow and direct it towards shareholders.

[chiefbrody] 07/2/2023 21:34

Any consensus on the FY Div? Another pathetic increase on the cards I'd expect.

[polar fox] 07/2/2023 21:14

NY liked Powell's speech at lunchtime, the DOW shot up 350, then dropped 500, before rising 600 in the last hour or two - that's about 1500 points just in the afternoon! It has closed 265 higher.
The FTSE is currently up around 30 on IG from its London close, so we might see a reasonable start tomorrow, with the UK banks a bit higher today in NY.

[jl5006] 07/2/2023 20:54

See sunk is down further
Scnapps and Hunds aint out but more and worse
Prime Minister Rishi Sunak has appointed Grant Shapps as the new energy and net zero secretary in a shake-up of government departments.

The former department which covered business and energy has been broken up as part of the reorganisation.

Greg Hands has replaced Nadhim Zahawi after the former Tory party chairman was sacked over his tax affairs.

A promotion also comes for Lucy Frazer who will head a streamlined department of culture, media, and sport.
Still going on with net zero - clueless in scnapps hands.
Guess that is what his masters wanted.

[utrickytrees] 07/2/2023 20:19

Global energy prices will probably be down overall. Its only Europe that are experiencing huge increases. Be interesting to see the change in US exports 2021 to 22 & 23.

[utrickytrees] 07/2/2023 16:37

The war mongering remainers will attribute brexit as the cause of the UK & EU's woes when infact its spiralling energy costs. The US will benefit from their new found competitive edge.

[xxxxxy] 07/2/2023 15:13

A Scottish fishing group speaks out to Facts4EU.OrgOne of the many anti-EU fishing groups campaigning for justice is 'Fishing Forward UK'. Yesterday their spokesman told us :-"These landing figures produced by the MMO are incomplete it would appear. We keep a log of vessels landing in the northern ports daily and there were 9 Spanish landings in Lochinver in December 2022 according to our records. These figures from the MMO don't add up really. We need a better way of checking this."What did the Government promise?On 25 July 2019, the Prime Minister, Boris Johnson, made a statement in the House of Commons and gave the following reply in answer to a specific question on fisheries."We have a fantastic opportunity now to take back control of our fisheries, and that is exactly what we will do. We will become an independent coastal state again, and we will, under no circumstances, make the mistake of the Government in the 1970s, who traded our fisheries away at the last moment in the talks."That was a reprehensible thing to do. We will take back our fisheries, and we will boost that extraordinary industry."Former Prime Minister Boris Johnson, Hansard, 25 Jul 2019?This is not about fish, this is about people and our coastal communities

[xxxxxy] 07/2/2023 15:10

Got a very strong point there.Remember Canada.Terrifying.

[xxxxxy] 07/2/2023 15:09

Nigel Farage@Nigel_FarageCentral Bank Digital Currencies will give the state total control over our lives. This must be resisted.?theguardian.com'Britcoin' digital currency could be in use by end of decade2:16 pm · 7 Feb 2023·

[hardup1] 07/2/2023 13:57

Senior management from the 4 big UK Banks had to attend a Treasury Select Committee hearing today to be questioned among other things why savings rates are not going up when mortgage rates were. Charlie Nunn was there for Lloyds. If anyone is interested in watching the hearing which is a little under 2 hours here is a link where you can go to download the video.

hxxps://parliamentlive.tv/Download/Index/ce8baffe-63f8-4673-ab0a-d284bfb334f5

[arja] 07/2/2023 13:55

whoops - up pops another brexiter . no point having a mind if you never change it as J says

[rovi70] 07/2/2023 13:20

There's got to be one.

[hardup1] 07/2/2023 13:16

"Wrong thread......".............wrong planet.

[my retirement fund] 07/2/2023 13:09

This outcome looks pretty much baked in:


free stock charts from uk.advfn.com

[my retirement fund] 07/2/2023 13:09

This outcome looks pretty much baked in:


free stock charts from uk.advfn.com