Lloyds Provision and Resilient Distribution Plan

13 days ago

Louise Moon

"Indeed. Yes. So, it's really it's laid out this morning the exact additional amount that it's going to take. So, it had already set aside over a billion pounds. So, 1.15 billion pounds and then last week following the FCA's ruling they said there would be another provision and that would be what they called material at the time. Markets were reacting to that last week and then this morning they've revealed the figure, stating it's going to be another 800 million pounds. Meanwhile, Bloomberg Intelligence noted that this additional amount won\"t derail their shareholder distribution plan."

Lloyds has confirmed an additional provision of 800 million pounds, building on the previously set aside 1.15 billion pounds, with the market reacting positively this morning. Bloomberg Intelligence’s comment that the new provision won\"t affect the bank\"s distribution plan adds reassurance that the bad news is already priced in.