2017 Facts about Lloyds Bank Profits
The Lloyds Banking Group welcomes again its return to its 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 likewise have returned about ?21.2 billion to the taxpayers and ?894 million more than its initial investment that includes about ?400 million on the dividends.
The sale likewise marked on the successful delivery on the strategy of the group in transforming a simple and low risked and one to which is retail and commercial bank. Because the government obtained its shares in 2009, the group repaired its balance sheet, reducing cost base, cutting the complexity and international exposure, building and selling TSB and addressed on legacy issues. The group has returned to profitability in 2013 and also resumed paying dividends in 2014.
Now, the group is safe, strong and is focused in meeting the changing needs of its clients. The group also is well placed in helping Britain to prosper, it is also considered to be the largest digital bank the UK and the highest payer of UK tax in the recent PwC Total Tax Contribution Survey on the 100 Group that contributes over ?11 billion since the year 2010.
In this year, the group confirmed new and ambitious targets as a part of the 2017 Helping Britain Prosper Plan in helping to address pressing issues like housing shortage, lending to SMEs and apprenticeships and on 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 actually are retail and commercial banking, general insurance and in long-term savings, investment and protection. The group in fact provides services at various well recognized brands.
If you ever own a small business, the group also gives 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.