Lloyds Banking (LSE:LLOY)
Historical Stock Chart
2 Months : From Feb 2020 to Apr 2020
By Sabela Ojea
Lloyds Banking Group PLC reported its scheduled results for 2019 on Thursday. Here's what you need to know:
PRETAX PROFIT: Lloyds made a pretax profit of 4.39 billion pounds for 2019, a significant fall compared with GBP5.96 billion for the same period a year earlier, after being hit by PPI costs. Analysts had forecast Lloyds to make a pretax profit of GBP4.51 billion for the year, taken from FactSet and based on eleven estimates.
UNDERLYING PRETAX PROFIT: Underlying pretax profit for the year came to GBP7.53 billion from GBP8.07 billion in 2018--it was expected to come to GBP7.85 billion, also according to FactSet and based on eleven analysts' estimates.
WHAT WE WATCHED:
-IMPAIRMENTS: The bank suffered impairments of GBP1.3 billion from GBP937 million at the end of 2018. This affected its underlying profit for the year, Lloyds said.
-BUYBACK PROGRAM: The British bank didn't resume its share buyback program which was suspended in the third quarter of the year.
Write to Sabela Ojea at email@example.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 20, 2020 07:32 ET (12:32 GMT)
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