LYG Stock Recent News

Lloyds Banking Group PLC (LSE:LLOY) was dealt an upgrade by analysts on Thursday as prospects for Britain's banking sector look to improve into the second half of the year. Across the sector in February, deposits into non-interest bearing bank accounts climbed for the first time since October 2022, mortgage lending was positive and business loans grew, KBW analysts said, pointing to this week's Bank of England data.

Insurance payouts from the collapse of the Baltimore's Francis Scott Key bridge could amount to one of the largest marine insurance losses in history, Lloyds of London CEO John Neal said.

Lloyd's of London chair Bruce Carnegie-Brown has said the Baltimore's Francis Scott Key Bridge incident could turn out to be the largest marine insurance payout of all time. The bridge collapsed after being struck by the Dali cargo ship, operated by Maersk, on Tuesday morning.

Lloyds Banking Group is sterling example of a robust and profitable British retail and commercial bank. The bank has a narrow economic moat thanks to some cost advantages, and a solid reputation in the UK banking industry that drives switching costs for clients. Lloyds remained profitable in 2023 with a solid balance sheet amplified by a high return on equity and expanding net interest margin.

PayPoint PLC shares were up 2% after it announced a 'significant expansion' of its collaboration with Lloyds Banking Group PLC (LSE:LLOY);s Cardnet, which will now serve as its primary card processing partner across its network. This enhanced multi-year pact will enable the black horse bank to provide a suite of banking and card services to its merchants.

Lloyds Bank will become the main "card aquiring partner" for British payments company PayPoint Group, as part of an expanded partnership expected to launch fully in the third quarter of the year, PayPoint said in a statement on Wednesday.

Barclays, Lloyds and NatWest have pledged to upgrade dozens of shared banking hubs as part of a plan to deal with the growing number of closed branches.  Bim Afolami, the City minister, has worked with bank shareholders and MPs to deal with the improvement of around 40 banking hubs across the UK.

Lloyds Banking Group PLC (LSE:LLOY)-owned Halifax has lowered the maximum age limit for its mortgage deals to 70 as it looks to avoid offering risky loans. Previously, people up to the age of 75 could apply for mortgages with the lender, with the reduction in age set to force many into shorter-term deals with higher interest rates.

Pension insurance specialist Rothesay has agreed to buy the about 6 billion pound ($7.67 billion) Scottish Widows in force bulk annuity portfolio from Lloyds Banking Group , the companies said on Wednesday.

Lloyds, Nvidia, Rolls Royce and Helium One Global were some of the bought stocks in February, according to Interactive Investor. Helium One Global was the most bought stock during the month, with shares in the gas explorer having jumped around 720% since the start of the year.