Tag: Lloyds

UK

Lloyds moves to regain independence

Colin Henderson

This is nice to see.  Lloyds is was the most risk averse bank before the crisis.  Yet after the Government intervention and Lloyds ‘takeover’ of HBOS with all their self inflicted mortgage problems, the situation altered dramatically. I hope Lloyds will be a survivor, and can remove government ownership. Lloyds repays £2.3bn to UK Treasury Lloyds Banking Group has repaid £2.3bn to the UK Treasury after strong support for its open offer and placing aimed at repaying the government’s £4bn of preference shares. Lloyds is believed to be the first major western bank to repay state equity in the round … Continue reading Lloyds moves to regain independence

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Lloyds next, and then Barclays

Colin Henderson

I feel for those I know at Lloyds firstly because I know them, and secondly because I used to work for Bank of Scotland (now HBOS, now Lloyds). What is poignant is that Lloyds was the risk averse bank.  This merely validates the point that the banking model is broken when a strong bank can find itself in this sad situation. Also note the reference to Darlings comment that Barclays are next.  Strange days indeed yet I still feel the root cause has not been ferretted out.  I see nothing in Central bank comentary about the derivatives market and the … Continue reading Lloyds next, and then Barclays

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UK government, RBS, and Lloyds begin the bad asset removal process

Colin Henderson

In the first real appearance of specific moves towards the inevitable Great Unwinding RBS announce plans to reduce their balance sheet by 25%. RBS to cut balance sheet by 25% | ft.com Royal Bank of Scotland will this week unveil plans to shrink its balance sheet by up to a quarter over the next three to five years as Stephen Hester, chief executive, sets out a strategy to return the state-controlled bank to the private sector. Note the timeframe of three to five years – I suspect this will be on the shorter end of that timeframe or even less … Continue reading UK government, RBS, and Lloyds begin the bad asset removal process