Lloyds Banking Group

Lloyds Banking Group was rescued by the British government in the 2008 financial crisis, receiving 20.5 billion pounds, giving the government a 38.7 per cent stake. In September 2013, the government announced a planned sale of some of its shares to reduce its stake to 32.7 per cent. 

Lloyds Banking Group keeps its options open for move to England

Lloyds acquired the Bank of Scotland headquarters in Edinburgh when it bought HBOS Group in 2008. Photo: Bloomberg

Scotland-based Lloyds Banking Group has left the door open for a move to London amid uncertainty over the future shape of Britain despite Scottish voters' rejection of full independence.

Monday, 22 September, 2014, 4:28am

RBS to relocate to England if Scotland votes for independence

RBS's proposal to move to London from Edinburgh if voters backed independence was first reported by the BBC. Photo: AFP

Scottish First Minister Alex Salmond has demanded a probe into the disclosure of Royal Bank of Scotland's potential move to England.

12 Sep 2014 - 6:19am 2 comments

Westpac buys A$1.45 billion in Australian assets from Lloyds Banking

Westpac is picking up the assets cheaply, as the vendor is refocusing on its home base, Britain. Photo: AFP

Westpac Banking, Australia’s second-biggest bank by market capitalisation, said on Friday it had agreed to buy Australian assets from Lloyds Banking for A$1.45 billion (HK$10.6 billion).

The deal, Westpac’s largest acquisition since its 2008 takeover of St George Bank, will extend the Australian lender’s reach in motor vehicle finance, equipment finance and corporate lending.

11 Oct 2013 - 10:41am

UK kicks off Lloyds bank share sale

 Britain pumped 20.5 billion pounds into Lloyds during the global financial crisis, leaving taxpayers holding 38.7 percent. Photo: Reuters

Britain has kickstarted the sale of its shares in Lloyds Banking Group, selling a 6 per cent stake in the part-nationalised lender and raising 3.2 billion pounds ($5.1 billion).

The placing price was 75 pence per share, a 3 per cent discount to Lloyds’ closing price on Monday and ahead of the government’s average buy-in price of 73.6 pence.

17 Sep 2013 - 3:12pm

British banks cut 189,000 jobs, take staff numbers to nine-year low

Falling revenue means banks may cut even more jobs. Photo: AFP

Britain's four biggest banks will have eliminated about 189,000 jobs by the end of this year from their peak staffing levels, bringing employment to a nine-year low amid a dearth of revenue. More cuts may follow.

29 May 2013 - 2:51am

Chicken feet give Savannah a big foot in the shipping door

The food of new life

Who would have thought that chicken feet could bring a US port to life? But that is indeed what they have done for the port of Savannah, Georgia. Prior to 2002, Savannah was a quiet sleepy port. Then two things happened. First, the west coast dock strike resulted in a lot of cargo being redirected through Savannah, much of which it held on to afterwards.

8 Dec 2012 - 3:46am

Lloyds haunted by loans insurance problems

Lloyds TSB is part of the Lloyds Banking Group. Photo: Bloomberg

Lloyds Banking Group, Britain's biggest mortgage lender, posted a third-quarter loss after setting aside an extra £1 billion (HK$12.4 billion) to compensate clients mis-sold loan insurance.

2 Nov 2012 - 5:30am

Business Digest, September 22, 2012

A logo of the Swiss mining company Xstrata. Photo: Reuters

Lan Kwai Fong to build complex in Wuxi

Lan Kwai Fong Holdings will expand into Wuxi city in Jiangsu province as the mainland's growing middle class demands more entertainment choices. The developer signed a memorandum of understanding with the city's government to jointly build a 140,000 square metre retail and restaurant complex, chairman Allan Zeman said. Bloomberg

 

22 Sep 2012 - 3:25am

Owners hope to strike gold after Olympics

Do world-class sporting events really inflate property values in the host city, or is it just real estate hype? The record says they do.

Certainly, owners of properties in London, hard hit by the market slowdown, will be hoping for the best, with the Olympic Games scheduled for 2012.

18 Aug 2010 - 12:00am

HSBC chief Geoghegan plans to give GBP4m bonus to charity

Michael Geoghegan, the chief executive of HSBC who moved to Hong Kong last month, is planning to give his nearly GBP4 million (HK$47.29 million) bonus to several charities, according to people familiar with the matter.

1 Mar 2010 - 12:00am

Days of the seven-digit bonus are far from over

Fat-cat fatigue is hitting new highs in Britain. Having just bailed out a number of the country's banks, taxpayers are up in arms over the sums of money expected to flow to bankers as the City enters bonus season.

16 Nov 2008 - 12:00am

Sunny optimism after all the doom and gloom

London

After the fall, the bounce. Not just in economics, but also in the state of mind, the feeling of well-being.

24 Sep 2008 - 12:00am

Public told to beware of online bank

People should avoid a website claiming to be operated by the International Chinese Switzerland Bank Corporation, the Hong Kong Monetary Authority said yesterday.

The warning was issued after police discovered the suspected fraudulent website www.icsbc.com was offering banking services without the authority to do so.

28 Aug 2005 - 12:00am

Lloyds TSB arm offers clients a full range of services

AN OFFSHORE BANK account can be in any jurisdiction that offers offshore banking facilities but, with a representative office, the customer service financial advice and transaction facilities can take on a distinctly local flavour.

28 Jun 2005 - 12:00am

Private banker stays ahead with suit, tie and integrity

PRIVATE BANKER Stephen Richards Evans seemed the perfect person to consult on his particular executive tastes. A private banker who favours Ermenegildo Zegna suits, Mr Richards Evans is regional chief executive for private banking for Lloyds TSB Asia, Britain's largest retail bank.

28 May 2003 - 12:00am

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