Lloyds BankingNYSE: LYG

Lloyds Bank has confirmed that a ruling last week over motor loan commissions might mean compensation payments for mis-selling are higher than expected. In a statement today, the bank noted Friday's Court of Appeal decision on the case of Hopcraft and Close Bros relating to motor commission arrangements.

The U.K.'s largest mortgage provider confirmed its full-year guidance after pretax profit and revenue in the third quarter both fell by less than expected.

Lloyds Banking Group reported third quarter profits that exceeded expectations on Wednesday, and reaffirmed its performance guidance for 2024, citing increasing financial confidence among its customers.

“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

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.

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.

British banking giant Lloyds has picked an Amazon Web Services veteran as its AI head. Rohit Dhawan has been named Lloyds' director of artificial intelligence (AI), overseeing the firm's AI Center of Excellence and driving adoption of AI-powered products and services for the lender, per a Monday (Aug. 5) news release.

The UK financial watchdog has pushed back the expected delivery date for its probe into the motor finance sector, which led to investors anticipating a greater chance that lenders will be forced to pay redress to some customers.  Having said previously that September would be when it planned to set out the next steps in its review of the historic use of discretionary commission arrangements (DCAs) in motor finance, the Financial Conduct Authority said today that this will be delayed until May 2025.