Confidence Building Continues With Another Strong Quarter From Lloyds; Shares Still Offer Upside
Lloyds reported a strong start to the year, which we see as a good indicator for the remainder of 2017 and a confidence builder for shareholders. While underlying profit remained flat year over year at GBP 2.1 billion, reported profit doubled to GBP 1.3 billion despite the fact the bank had to book a further GBP 350 million towards the payment protection insurance claims and GBP 200 million towards the HBOS and other conduct matters. Net income for the first quarter stood at GBP 890 million vers...Lloyds Banking Group is a financial services provider. Co.'s main business activities are retail and commercial banking, general insurance and long-term savings. Co.'s Lending products are mortgages, credit cards, personal and business loans; Deposit products include taking Current accounts and savings accounts; Insurance products are home insurance, motor insurance and protection; Commercial financing products includes term lending, debt capital markets and private equity; and Risk management products includes interest rate hedging, currency and liquidity. As of Dec 31 2017, Co. had total assets of £812.1 million and total deposits of £448.0 million.
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