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Shareholders vent fury at Lloyd Bank

Yesterday's Lloyds bank shareholder meeting was a volatile affair with many private and institutional investors flagging their concerns about the secret £26 billion loan from the UK government. Even though the £13.5 billion rights issue was voted through by shareholders there is still a concern at the way in which the operation has been run over the last 12 months.

Lloyds bank was for many years seen as one of the steadier UK banking operations, fairly risk averse and built on a fairly solid base. However, the acquisition of HBOS has proved to be the downfall of Lloyds bank and there is still concern that the UK government was in some way responsible for the takeover at a time when HBOS itself was struggling to survive. Many Lloyds bank shareholders feel they have been left to "carry the can" and the UK government has effectively cut them adrift leaving Lloyds bank a shadow of its former self.

However, like Royal Bank of Scotland, there are now hopes that the company can look forward rather than backwards and attempt to build on its reputation which although dented in the short term still carries a fair amount of weight in the worldwide market. Will Lloyds bank ever return to its former glory?

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