LYG Stock Recent News

Lloyds Banking Group PLC (LSE:LLOY) publishes its third-quarter update on Wednesday 23 October fresh from having increased mortgage rates as the UK's largest lender looks to protect its profit margins amid constant fluctuations about the Bank of England's path for interest rates in coming months.  The last results we saw from the high-street bank showed a fall in first-half profits but the full-year outlook maintained, with a cherry on top in the form of a 15% dividend hike.

“We estimate that there's about £40-50 billion worth of investment per year for the next 20 years” Lloyds Banking Group CEO Charlie Nunn tells Francine Lacqua that the UK government should lean on private investment https://bloom.bg/4flNfdp

The chief executive ofLloyds Banking Group PLC (LSE:LLOY) has warned that mortgage rates are unlikely to return to the low levels seen over the past decade. In a BBC interview, Charlie Nunn said while rates may continue to fall, the near-zero interest borrowing costs of the 2010s are unlikely to reappear.

New regulations governing the reimbursement for victims of digital fraud begin today, affecting high street banks such as Lloyds Banking Group PLC (LSE:LLOY), NatWest Group PLC (LSE:NWG), building societies like Nationwide Building Society and Coventry Building Socienty, and payment service providers that range from Wise to Stripe to eToro. Victims can get up to £85,000, potentially with payment being received within five days, under the new rules governed by the UK's Payment Systems Regulator (PSR) that began today, 7 October 2024.

UK banks remain attractive investment opportunities despite recent challenges, according to UBS. The investment bank highlights a mixed picture for the sector, with the sector benefiting from a stable deposit base but facing pressure due to policy changes and potential future tax increases.

Lloyds Banking Group plc offers a sustainable high-dividend yield and attractive valuation, making it a compelling income pick in the European banking sector. Lloyds maintains a strong position in the U.K. retail banking market, with significant growth potential in asset management and insurance. Despite recent challenges from lower rates and higher costs, Lloyds' profitability remains robust, supported by good credit quality and efficient cost management.

Lloyds Banking Group's (LSE:LLOY) residential landlord arm, Citra Living, has made its first property purchase in Manchester as it continues the rapid expansion of its portfolio to 4,300 homes, over half of which are occupied.    A development of two blocks of 274 flats and two retail store units on Oldham Road, in the New Cross area of Manchester, has been bought from Corebridge Real Estate Investors (AIM:RLE), part of New York-listed Corebridge Financial.

Barratt Developments PLC (LSE:BDEV) has joined forces with Lloyds Banking Group PLC (LSE:LLOY) and Homes England to create the MADE Partnership, which will focus on developing large sites “to help deliver thousands of much needed new homes across the country”. According to the press statement, MADE will act as master developer for multiple large scale, residential-led developments from 1,000 to more than 10,000 homes along with a variety of community facilities and employment uses.

Lloyds Banking Group PLC (LSE:LLOY) has been called out for offering the least to savers in flexible accounts across big banks, which appear to grant some of the poorest rates on the market. According to Moneyfacts, Lloyds' easy saver account offers a gross rate of 1.30% at £10,000, making it the lowest rate on offer among the big UK lenders.

Digital banking for customers of Lloyds Bank Group PLC and Nationwide was down for hundreds of customers on Monday. It follows problems with NatWest, HSBC and TSB at the end of last week.