Lloyds Banking Group (LLOY)

Sector:

Banking

Index:

FTSE 100

55.35p
   
  • Change Today:
    -1.20p
  • 52 Week High: 67.25
  • 52 Week Low: 48.58
  • Currency: UK Pounds
  • Shares Issued: 70,285m
  • Volume: 233,270,060
  • Market Cap: £38,903m
  • RiskGrade: 126

Lloyds to payout additional ?7m over HBOS fraud

By Abigail Townsend

Date: Friday 20 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Lloyds Banking Group has agreed to make a series of payments totalling around £7m to victims of the HBOS Reading fraud.
The bank has decided to pay £35,000 to the 191 fraud victims after an independent review highlighted "serious shortcomings" in its existing compensation scheme.

The review, carried out by retired High Court judge Sir Ross Cranston and published earlier this month, found that the scheme lacked transparency, that the bank had made it unnecessarily hard for victims to claim and had adopted a "forceful approach" towards customers.

Ross concluded that victims may not have received fair outcomes as a result.

At the time, Lloyds chief executive António Horta Osório apologised and committed the bank to following the review's recommendations, including giving customers the option of a "voluntary re-review of direct and consequential losses".

But on Friday, a spokesperson said: "A common concern expressed by customers, as well as other stakeholders, during recent meetings has been that a re-review will take time and this creates further distress for them. We have listened to these concerns and are very sorry for this.

"While we await the identification of the independent expert or experts who will define and lead the re-review recommended by Sir Ross Cranston, will make a £35,000 ex gratia payment to all customers who were within the customer review."

The bank has already paid out more than £100m over the fraud, one of the UK's biggest banking scandals. In collusion with external consultants, bankers based at HBOS's Reading branch loaded small businesses with debt before referring them to a turnaround consultancy. Unable to pay the fees and saddled with debt, numerous businesses went bust. The fraudsters spent the money on lavish lifestyles and sex workers.

Six people, including two former HBOS employees, were jailed in 2017 over the fraud.

Lloyds snapped up HBOS at the height of the financial crisis, years after the fraud took place.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Lloyds Market Data

Currency UK Pounds
Share Price 55.35p
Change Today -1.20p
% Change -2.12 %
52 Week High 67.25
52 Week Low 48.58
Volume 233,270,060
Shares Issued 70,285m
Market Cap £38,903m
RiskGrade 126

Lloyds Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.03% above the market average94.03% above the market average94.03% above the market average94.03% above the market average94.03% above the market average
12.50% above the sector average12.50% above the sector average12.50% above the sector average12.50% above the sector average12.50% above the sector average
Price Trend
19.9% below the market average19.9% below the market average19.9% below the market average19.9% below the market average19.9% below the market average
22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average
Income
75.83% above the market average75.83% above the market average75.83% above the market average75.83% above the market average75.83% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Growth
29.72% below the market average29.72% below the market average29.72% below the market average29.72% below the market average29.72% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

What The Brokers Say

Strong Buy 10
Buy 1
Neutral 8
Sell 2
Strong Sell 2
Total 23
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Lloyds Dividends

  Latest Previous
  Final Interim
Ex-Div 16-Apr-20 08-Aug-19
Paid 27-May-20 13-Sep-19
Amount 2.25p 1.12p

Trades for 21-Feb-2020

Time Volume / Share Price
16:50 13 @ 55.37p
16:50 19,257 @ 55.37p
16:50 76 @ 55.37p
16:47 1,383,825 @ 55.52p
16:35 81,304,874 @ 55.35p

Lloyds Key Personnel

Chair Norman Blackwell
COO Juan Colombás

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