 Investments |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
The government is in a desperate race to try and refloat the UK economy before we see a major collapse in the UK employment market. A recent flurry of announcements from various recruitment...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
|
uk loans
Need a new car? Need work done on your house? Get uk loans only at All About Loans.
|
|
|
|
|
|
Wednesday 30th July 2008
Profits at Lloyds TSB, one of the leading UK banks, fell by 70% for the first half of 2008 with the bank reporting a figure of £599 million compared to £1.99 billion for the same period last year. While the bank has been hit by the credit crunch, Lloyds offers the least overseas diversification of any of the UK majors, something which is starting to worry analysts a little.
In a show of confidence which looks to be wasted on the City the group increased the dividend payment by 2% but it was more the tier one capital strength ratio, down from 7.4% to 6.2% in just six months, which caught the eye of most. More worrying is the fact that the fall in the ratio occurred at a time when the full impact of the worsening credit crunch has not yet been felt. There was some surprise that Lloyds TSB has not yet tapped the market for extra finance to shore up the balance sheet, but if things get any worse then they may have no choice but to return to shareholders.
The UK banking sector is very much under pressure and while these figures are bad they look set to get a whole lot worse as the full impact of the slowdown in the UK economy really hits home. |
→ Full Investments News Archive
→ Return to Homepage
|
|
|
|
| Other top stories in this section:
|
|
|
|
