Lloyds Banking Share Discussion Threads

[institutional investments] 26/7/2024 08:30

Vladman Sachs - 25 Jul 2024 - 21:32:30 - 32119 of 32203 Lloyds Bank (LLOY) 'On Topic only' - Thread - LLOY

Looking at one bank in the US that's basically share price correlated to Lloyd's whatever the varying geo macro's, tanked 4% after been up during UK open

[davius] 26/7/2024 08:23

RBC cuts Lloyds Banking Group to 'sector perform' (outperform) - price target 60 pence

[diku] 26/7/2024 08:17

2016 Brexit vote day Lloy was 72.5p if I remember correctly...

[xxxxxy] 26/7/2024 08:13

Revolut is finally a bank – now it has to start acting like oneNik Storonsky must prove his company can act as a mature institution that can be trusted with large depositsBEN MARLOWASSOCIATE EDITOR...Daily Telegraph

[freddie01] 26/7/2024 07:45

Lloyds hikes dividend but profits slump as mortgages struggle and savers seek better rates


Lloyds intends to pay shareholders a 1.06p per share interim dividend


The company revealed its first-half profits declined by 14% to £3.3bn



Lloyds Banking Group has upped its dividend despite reporting a significant fall in first-half profits, amid greater mortgage market competition.

Lloyds posted a 14 per cent slump in pre-tax profit to £3.3billion for the six months ending June, due to rising operating costs and peak interest rates. However, this beat analyst forecasts of around £3.2billion.

Like many other banking giants, Lloyds enjoyed bumper results in 2022 and 2023 as the Bank of England hiked the UK base rate on 14 successive occasions in response to soaring inflation, enabling it to raise mortgage costs faster than it paid out more to savers.

However, a struggling mortgage market and pressure to provide more generous savings interest has hit bank profits.

The lender intends to pay investors a 1.06 pence per share interim dividend, which is equivalent to £662million and a 15 per cent jump on the previous year.

Underlying net interest income slipped by 10 per cent to £6.3billion as its net interest margin - the difference between what banks pay savers and receive in loans - dipped by 24 basis points to 2.94 per cent.

While Lloyds' mortgage book has marginally grown to £306.9billion this year, the company noted on Thursday that homebuyers were refinancing in a lower-margin environment.

Customer deposits have increased since last December by £3.3billion to £474.7billion, with an expansion in retail deposits offsetting a drop in commercial banking deposits.

Charlie Nunn, chief executive of Lloyds, said the group 'delivered robust financial results with solid income performance and cost discipline alongside strong capital generation'.

Following the result, Lloyds upheld its annual guidance.

It expects to achieve a banking net interest margin exceeding 290 basis points and have operating expenses of approximately £9.4billion.


It also said it was confident of earning about £700million of additional revenues from strategic initiatives and delivering around £1.2billion in cost savings.

Richard Hunter, head of markets at Interactive Investor, said: 'With a resilient performance amid a higher interest rate environment and with some promising signs of growth, Lloyds has provided a timely reminder as to why it is often seen as a barometer for the wider UK economy.

'An improvement in the second quarter bodes well for the remainder of the year, with the additional possibility that the trough has been reached with regard to the crucial metric of net interest margin.'

Lloyds Banking Group shares were up 0.34 per cent to 59.86p this afternoon, but they have still expanded by around 22 per cent so far this year.

[institutional investments] 25/7/2024 22:27

Everyone doesn't seem upset enough. Back later. Obviously seo needs more cranking up haha

[institutional investments] 25/7/2024 22:22

Nobbygnome seems upset