LLoyd's branch sale collapses

MacMickster

Masomnia wrote: »

Your understanding is correct. I'm guessing they'll float it, unless NBNK get interested again?

As I recall the coop deal wasn't a great one for shareholders, so I'd suggest this is potentially good news for all of us.

If you are expecting a better deal than the one the Co-op have backed away from then I suspect that you may be in for an unpleasant surprise.

grizzly1911

michaels wrote: »

I don't think that is the whole story - I think there was a lot of 'value' from profits that were expected to acrue from activities like overdraft charges, cross-selling of insurance etc which it now turns out will never happen hence branches and exisitng customer becoming liabilities rather than 'profit centres'.

Sadly all this lost value whilst just bing zeros on a screen were also directly expected to pay for our standard of living through future pensions or govt tax receipts so they will be missed.

Presumably some of those zeros are now sitting in China, Far East or the Middle East bank accounts? Said zeros are then lent back to us at 7% (Barclays) or used to purchase our assets (Utilities Infrastructure).

http://www.waterbriefing.org/home/finance-and-risk/item/7267-chinese-firms-target-uk-water-and-wastewater-infrastructure

http://www.bbc.co.uk/news/uk-england-oxfordshire-16654939

Time to get a new tablet....

Gizmo247

I wonder if they will bundle Intelligent Finance back into TSB again as Lloyds don't seem to want it. Might as well pass it off.

Conrad

Once again FSA regulation chokes off enterprise.

The USA is finding the same according to a chapI saw on RTV. He argues the small cautios local Banks are going under and being snapped up by the big few, all thanks to the costs caused by more regualtion.

Thrugelmir

wotsthat wrote: »

Every time Lloyds are mentioned on the news they are taxpayer owned. They've set aside £6.7bn (20% of their peak value) for PPI - no-one mentions it's 'our' money that's being given away.

The Group is called LLoydsHBOS.

HBOS (Halifax and Bank of Scotland etc) is a subsidary company to Lloyds within the Llloyds banking group.

If you read the Llloyds annual accounts there is a breakdown of operating losses and profits within the Group Companies. The old Lloyds has remained profitable throughout the period.

Just for the record.

Thrugelmir

wotsthat wrote: »

....and the government remain confused about why new entrants to the UK banking sector aren't forming an orderly queue.

Retail banking is in decline. There's going to less business and far higher costs to go round.

So we'll probably end up like the old days with a big 6/7. With another half a dozen or so medium sized specialist or regional retail banks.

wotsthat

Thrugelmir wrote: »

The Group is called LLoydsHBOS.

HBOS (Halifax and Bank of Scotland etc) is a subsidary company to Lloyds within the Llloyds banking group.

If you read the Llloyds annual accounts there is a breakdown of operating losses and profits within the Group Companies. The old Lloyds has remained profitable throughout the period.

Just for the record.

Thanks for the information.

I bought shares in the 'old' Lloyds - they've been a wonderful investment - probably because of all that profit.

wotsthat

Thrugelmir wrote: »

Retail banking is in decline. There's going to less business and far higher costs to go round.

So we'll probably end up like the old days with a big 6/7. With another half a dozen or so medium sized specialist or regional retail banks.

Doubt it'll be that many.

Why would there be new entrants if the sector is in decline and the government turn a blind eye to clear cases of abuse/ fraud such as PPI claims.

BobQ

grizzly1911 wrote: »

Haven't we already paid for them once?

I've still got some form the last time round.

Next they will be trying to sell us bomb and explosive detectors that can now find money at the end of the rainbow. Just need to obtain the correct "coding card" to go with them, given away in lucky chocolate bars wrappers.

As I recall TSB was a trust that never was the Thatcher government's to sell, But they succeded with an argument that as it was not clear who owned the TSB, they had the right to sell it.

So the TSB has evoled from a very profitable bank run in thr interests of its customers with a Branch network bigger thann Barclays, to an unprofitable asset of an unfrofitable banking group that nobody wants. A testament to privatisation!

BobQ

Thrugelmir wrote: »

Retail banking is in decline. There's going to less business and far higher costs to go round.

So we'll probably end up like the old days with a big 6/7. With another half a dozen or so medium sized specialist or regional retail banks.

Is this purely because the bankrate is low and economy flat? If there were more scope to make profits from a higher bank rate and more demand for borrowing would they be more profitable?