Lloyds Banking Group News
Lloyds’ chairman to step down
Lloyds Banking Group has announced that its chairman, Sir Winfried Bischoff, will be retiring no later than May 2014. The exact date will be subject to the appointment of his successor, the search for whom is being led by Anthony … Read more
Banks improve EFG lending to SMEs
Figures published today show that bank lending to small and medium-sized businesses (SMEs) through the Enterprise Finance Guarantee (EFG) scheme is showing improvement. The scheme provides vital funding to SMEs that lack the collateral or credit history to secure a … Read more
Household wealth exceeds £7 trillion
Total net household wealth in the UK has surpassed the £7 trillion threshold for the first time, according to Lloyds TSB Private Banking’s latest research. At the end of 2012 total net household wealth was estimated to be £7.05 trillion, … Read more
Lloyds fined £4.3m for delays in paying PPI redress
Lloyds Banking Group has been fined £4,315,000 for not settling payment protection insurance (PPI) redress in good time, for up to 140,000 customers. According to the Financial Services Authority (FSA), the group sent 582,206 decision letters to PPI customers between … Read more
Pensions infrastructure fund hits £1bn
A new platform to support pension funds investing in infrastructure projects has secured ten funds as founding investors and reached £1 billion of investment capital. Each of the investors in the Pensions Infrastructure Platform (PIP) has made a soft commitment … Read more
Lloyds TSB reports savings being squeezed
The latest Lloyds TSB Savings Index has revealed that a combination of weak wage growth and reduced spending power are limiting the ability of people to save. More than half (53%) of savers regularly access their savings through the year … Read more
Lloyds cuts 940 jobs
Unite has expressed fury over Lloyds Banking Group’s decision to cut another 940 jobs across the group, bringing total job losses to 1,300 in the last few days. According to the trade union, the bank has cut over 31,000 jobs … Read more
Lloyds earmarks £6.5bn for first-time buyers
Lloyds Banking Group is supporting first-time buyers with a commitment to lend £6.5 billion in the year ahead to those taking their first step on to the property ladder. The bank expects to help around 60,000 people buy their first … Read more
Board change at Lloyds
Lloyds Banking Group has announced that Mr T Timothy Ryan Jr will step down from the board on 18th April 2013, having served as a non-executive director for four years. Mr Ryan leaves to join the management team of JP … Read more
Lloyds partners Alzheimer’s Society
Lloyds Banking Group has chosen the Alzheimer’s Society and Alzheimer Scotland as its charity of the year partnership for 2013 and 2014. Funds raised during the period will help the UK’s leading dementia charity to launch “Live Well”, its first … Read more
Lloyds Banking Group appoints Scottish regional MD
Lloyds Banking Group has announced the appointment of Alasdair Gardner as regional managing director of Commercial Banking for Scotland. Gardner will assume responsibility for the firm’s SME clients in Scotland, as well as retaining his current position leading the firm’s … Read more
HBOS: eight charged with large-scale fraud
Thames Valley Police has charged eight people following a large-scale investigation into offences originating from the Halifax Bank of Scotland branch in Reading, Berkshire. The charges follow an investigation carried out by the Force’s Economic Crime Unit, following a referral … Read more
Lloyds TSB launches Platinum refund offer
Lloyds TSB has announced that, from this week, it is offering customers opening a Lloyds TSB Platinum credit card online a 50% refund on balance transfer fees. The Lloyds TSB Platinum credit card includes 0% interest on balance transfers for … Read more
Lloyds sells Admiral Taverns
Lloyds Banking Group has sold Admiral Taverns, the tenanted pub group, to an affiliate of US private investment firm, Cerberus Capital Management. The disposal marks the latest phase of a three-year transformation of the business and delivers a complete debt … Read more
UK business sentiment on the rise
The latest Lloyds TSB Commercial Business in Britain survey has revealed rising confidence as concerns over the eurozone sovereign debt crisis diminish. The biannual report, now in its 21st year, surveyed 1,800 UK businesses and found a generally improving mood … Read more
Lloyds clocks up one billion internet log-ons
Lloyds Banking Group has announced that it has passed the milestone of one billion internet banking log-ons across Lloyds TSB, Bank of Scotland, and Halifax in 2012, with over three million customers logging on each day, on average. The group … Read more
Lloyds TSB promotes Christmas saving
New research from Lloyds TSB has revealed that the vast majority (74%) of parents know exactly what present their children want most for Christmas. In addition, childhood wishes are likely to be granted as 80% of parents thus informed will … Read more
Retirees losing up to 32% a year on annuities
Data from Lloyds Banking Group has indicated that a retiree with a typical pension pot of £50,000 could earn 32% (£792) more each year by browsing the market instead of buying an annuity from their pension provider. Many of the … Read more
UK equities close to recovering credit crisis losses
UK equities have started to recover from the substantial losses incurred between 2007 and 2009, latest research from Lloyds TSB Private Banking shows. Since March 2009, UK equity prices have grown by 56%, partly offsetting the 43% decline from the … Read more