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05/08/2009
Lloyds Announces £4 Billion Loss
One of the UK's top banking groups, Lloyds has announced losses of £4 billion in the first six months of this year.
This compares to the £2.8 billion profit which Lloyds made in the same period last year.
The bank, which was part-nationalised, has identified the large number of bad debts at HBOS, which it took over in September 2008, has a factor in the huge losses.
Lloyds is now set to write down £13.4 billion of bad debt, which is mainly loans, 80% of which came from HBOS.
However, due to accounting technicalities related to the HBOS takeover, Lloyds has posted a pre-tax profit of £6 billion for the first six months of the year.
(KMcA/BMcC)
This compares to the £2.8 billion profit which Lloyds made in the same period last year.
The bank, which was part-nationalised, has identified the large number of bad debts at HBOS, which it took over in September 2008, has a factor in the huge losses.
Lloyds is now set to write down £13.4 billion of bad debt, which is mainly loans, 80% of which came from HBOS.
However, due to accounting technicalities related to the HBOS takeover, Lloyds has posted a pre-tax profit of £6 billion for the first six months of the year.
(KMcA/BMcC)
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23 September 2008
Salmond To Press Over Lloyds HBOS
A specially convened summit of Scottish politicians and business leaders, who earlier agreed a "national statement of concern" about the takeover of the Scottish-based banking group, HBOS, are now to be joined by First Minister Alex Salmond (pictured) in a meeting with executives from Lloyds TSB to discuss the bank's planned takeover.
Salmond To Press Over Lloyds HBOS
A specially convened summit of Scottish politicians and business leaders, who earlier agreed a "national statement of concern" about the takeover of the Scottish-based banking group, HBOS, are now to be joined by First Minister Alex Salmond (pictured) in a meeting with executives from Lloyds TSB to discuss the bank's planned takeover.
19 July 2012
Co-op Buys Lloyds Bank Branches
Terms have been agreed for the Co-op to buy 632 branches of Lloyds TSB and Cheltenham and Gloucester. The Co-operative Group will pay Lloyds Banking Group £350m upfront and up to an additional £400m based on the performance of the combined business. European regulators demanded the sale after Lloyds bought HBOS during the financial crisis.
Co-op Buys Lloyds Bank Branches
Terms have been agreed for the Co-op to buy 632 branches of Lloyds TSB and Cheltenham and Gloucester. The Co-operative Group will pay Lloyds Banking Group £350m upfront and up to an additional £400m based on the performance of the combined business. European regulators demanded the sale after Lloyds bought HBOS during the financial crisis.
27 February 2009
Lloyds Announces £10.8bn Losses
Lloyds Banking Group has announced it made a pre-tax loss of £10.8 billion in 2008, following its take-over of ailing rival HBOS. The former Lloyds TSB business saw profits slashed 80% to £807 million, in what was described as a "resilient underlying business performance".
Lloyds Announces £10.8bn Losses
Lloyds Banking Group has announced it made a pre-tax loss of £10.8 billion in 2008, following its take-over of ailing rival HBOS. The former Lloyds TSB business saw profits slashed 80% to £807 million, in what was described as a "resilient underlying business performance".
13 October 2008
£37bn Government Bail-out For Banks
The government has announced a £37bn bail-out for the Royal Bank of Scotland (RBS), Lloyds TSB and HBOS. RBS has been forced to go to the treasury for a £20bn bailout. Lloyds TSB and HBOS will receive a £17bn investment of new capital. Barclays plans to raise £6.5bn from private investors.
£37bn Government Bail-out For Banks
The government has announced a £37bn bail-out for the Royal Bank of Scotland (RBS), Lloyds TSB and HBOS. RBS has been forced to go to the treasury for a £20bn bailout. Lloyds TSB and HBOS will receive a £17bn investment of new capital. Barclays plans to raise £6.5bn from private investors.
23 February 2012
RBS Reports £2bn Loss In 2011
Royal Bank of Scotland has reported a loss of £2 billion last year, an increase from a loss of £1.1bn in 2010. The bank also posted a loss of £1.8 billion in the fourth quarter of last year compared to a profit of £12 million in the same period a year earlier.
RBS Reports £2bn Loss In 2011
Royal Bank of Scotland has reported a loss of £2 billion last year, an increase from a loss of £1.1bn in 2010. The bank also posted a loss of £1.8 billion in the fourth quarter of last year compared to a profit of £12 million in the same period a year earlier.
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