Lloyds - ITV News

Will TSB truly be successful and loved by its customers?

The first block of shares has been sold off by Lloyds and the CEO of TSB is evidently pleased, but will the bank be loved by its customers?

6:44pm, Fri 20 Jun 2014

Is TSB the John Lewis of financial services?

TSB staff are to be handed free shares worth £100 as part of a John Lewis-style reward scheme unveiled by the challenger bank today.

5:28pm, Thu 5 Jun 2014

TSB timing isn't great but deadline looms for Lloyds

Lloyds is being forced to sell TSB, its 631 branches and its 4.5 million customers, in return for the taxpayer support.

9:37am, Tue 27 May 2014

Live updates

7:40 am, Tue 27 May 2014 Lloyds announces TSB flotation

TSB 'an effective challenger', says chief executive

Lloyds chief executive Antonio Horta-Osario says TSB has "a strong balance sheet" and is well protected from the issues that caused the banking crisis.

TSB has a national network of branches, a strong balance sheet and significant economic protection against legacy issues.

It is already operating on the UK high street and is proving to be a strong and effective challenger, further enhancing competition in the UK banking sector.

– Lloyds chief executive Antonio Horta-Osorio

7:34 am, Tue 27 May 2014 Lloyds announces TSB flotation

TSB boss: No dividend until 2017 at earliest

TSB will offer less than a quarter of its available shares to ordinary members of the public, its boss has said.

ITV News Business Editor Joel Hills reports:

TSB is to list next month. 25% stake in the bank will be sold. Boss says 15 - 20% of shares will go to small (retail) investors.

Paul Pester says TSB will not pay a dividend until 2017 at earliest as all profits will be channelled into growing bank.

7:30 am, Tue 27 May 2014 Lloyds announces TSB flotation

Public will be offered TSB shares

Shares in TSB will be available to members of the public via intermediaries, as well as institutional investors.

Lloyds Banking Group said the retail offering will contain an incentive allowing each retail investor to receive one free share for every 20 shares acquired up to the value of £2,000 and kept for a year after the float.

7:10 am, Tue 27 May 2014 Lloyds announces TSB flotation

TSB stake to be floated next month

A 25% stake in TSB is to be floated on the stock market next month, owner Lloyds Banking Group has announced.

7:06 pm, Tue 20 May 2014 Lloyds sets up loan-to-income cap for mortgage claims

Lloyds: 'Important we don't disrupt this recovery'

Lloyds group director of mortgages Stephen Noakes has said that while the housing market outside of London was improving the recovery is "fragile" as "prices largely remain below their peak."

He said: "It is important we don't disrupt this recovery. But in London, house prices are almost now 30% above the 2007 peak.

Household wealth is calculated by working out people'd assets such as pensions and houses. Credit: Joe Giddens/PA

"This is largely driven by issues of supply which are particularly acute in London and this is having an impact on income multiples which are failing to keep pace with asset growth.

"This prudent update to our lending policies is intended to manage risks to our business and for our customers."

6:47 pm, Tue 20 May 2014 Lloyds sets up loan-to-income cap for mortgage claims

Lloyds to tackle housing inflation with loan-income cap

Britain's biggest mortgage lender has said that from today, people applying to take out a mortgage worth more than £500,000 will see the amount they are allowed to borrow limited to four times their income.

ITV News Business Editor Joel Hills reports:

Lloyds says new limits will impact 2% of total mortgage lending. Bank wrote £37bn of new home loans in 2013.

Governor of the @bankofengland doesn't see a housing bubble but Lloyds Banking Group does, in London at least.

Lloyds Banking Group said it has been designed in a bid to tackle the pressure of housing inflation in the London market.

12:47 am, Sat 10 May 2014 Household wealth increases by £717 billion

Further evidence that 'UK economy is gathering pace'

According to research by Lloyds Bank Private Banking, household wealth has grown by its largest annual amount in a decade.

With individual households typically seeing their wealth grow by £96,000 in the last 10 years to reach £280,787, Ashish Misra, head of investment policy at Lloyds Bank Private Banking, said:

In the past year household wealth grew by £717 billion, the largest annual rise in the decade

Increasing activity in the housing market and continued growth in equity prices has boosted household wealth. These figures, to an extent, provide further evidence that the recovery in the UK economy is gathering pace.

– Ashish Misra

11:28 pm, Fri 09 May 2014 Household wealth increases by £717 billion

Household wealth increases by £717 billion

Rising household wealth could mean the economy is in recovery, a Lloyds banking report has found. The increased value of people's financial assets as well as rising housing market activity helped household wealth to increase by £717 billion in the last year.

Household wealth is measured by working out the value of people's assets such as their house, savings, shares and pensions, minus what they owe on debts like credit cards and mortgages.