2017 Facts about Lloyds Bank Profits
LLoyds Banking Group now welcomes its return to full private ownership and it also announces its continued commitment to help Britain Prosper.
The successful delivery of strategy has enabled the group in returning about more than ?21.2 billion to British taxpayers, which repays ?894 million that’s more than the original investment.
The Lloyds Banking Group likewise welcomes the news today that the government sold its remaining stake that returns the group back again to its full private ownership. The sale also returned ?21.2 billion towards the taxpayer and ?894 million more than its initial investment that includes over ?400 million in dividends.
The sale also marks on the successful delivery of the strategy of the group in transforming to a simple, low risked and UK focused retail and commercial bank. Because the government first obtained shares in 2009, the group then repaired its balance sheet, reduced on its cost base, built and sold TSB, addressed legacy issues and cut on complexity and international exposure. The group has returned to profitability in 2013 and also resumed paying dividends in 2014.
Today, the group now is safe, strong and is likewise focused to meeting the changing needs of clients. Another thing is that the group is well placed in helping Britain to prosper and it is also considered as the largest digital bank in the UK tax for its recent PwC Total Tax Contribution Survey on the 100 Group which contributes over ?11 billion ever since the year 2010.
In this year, the group confirmed new, ambitious targets as a part of their 2017 Helping Britain Prosper Plan in order to help address pressing issues like housing shortage, lending to SMEs and apprenticeships and skills. Through the case of going beyond the business as usual activities to empower people, businesses and communities, the group will then believe that this is well positioned to help Britain Prosper while they create sustainable value towards its 2.5 million shareholders.
The main business activities of the group would be retail and commercial banking, general insurance and also long-term savings, investment and protection. The group in fact provides services at various well recognized brands.
When you own a small business, the group will be able to provide the finance that you need in order to grow. When you wish to achieve your dream of owning your first home, they likewise would help you through the apprenticeship opportunities which they could give on the year 2020 across the UK. There are five areas of focus to which have been identified as the biggest economic and social challenges that the group could respond, which includes developing new environmental target.