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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Lloyds Banking Group    LLOY   GB0008706128

LLOYDS BANKING GROUP (LLOY)
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Lloyds Banking : HOPES OF BREAKTHROUGH IN SMALL COMPANIES' BANK CAMPAIGN

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01/14/2018 | 08:06am CEST

Jan. 14--ENTREPRENEURS who claim they have been abused by their banks will descend on Westminster this week to press the case for a new independent system to resolve disputes.

Hopes are rising for a breakthrough in the battle for a tribunal or properly resourced Ombudsman for small firms. Several bank bosses support the initiative and sources believe the Treasury may now be ready to act on the issue. MPs are to debate how banks have treated business customers on Thursday.

They will discuss RBS's controversial global restructuring group and are expected to cover the behaviour of others such as HBOS's Reading branch, where crooked bankers and advisers cheated firms. The debate will be led by MPs from the All-Party Parliamentary Group on Fair Business Banking (APPG) which has led the campaign alongside The Mail on Sunday. Currently, only the tiniest businesses can bring complaints against their banks through the Financial Ombudsman Service. Bigger businesses can go through the courts, but the cost is prohibitive for anything but the largest claims.

Treasury select committee chairman Nicky Morgan and Liberal Democrat leader Sir Vince Cable intend to take part in the debate, The Mail on Sunday understands. TV star Noel Edmonds, who alleges his Unique Group was brought down by crooked bankers at HBOS's Reading branch, is also planning to attend.

Lord Cromwell, chair of the APPG, said: 'After many years of frustration, businesses finally seem to have traction in their quest for an appropriate means for dispute resolution with lending bodies. Creating an independent tribunal would be transformational.'

___

(c)2018 the Daily Mail (London)

Visit the Daily Mail (London) at www.dailymail.co.uk/home/index.html

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials (GBP)
Sales 2018 18 679 M
EBIT 2018 8 814 M
Net income 2018 4 064 M
Debt 2018 -
Yield 2018 5,38%
P/E ratio 2018 10,92
P/E ratio 2019 9,04
Capi. / Sales 2018 2,36x
Capi. / Sales 2019 2,35x
Capitalization 44 003 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 0,75  GBP
Spread / Average Target 21%
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Managers
NameTitle
António Mota De Sousa Horta-Osório Group Chief Executive Officer & Executive Director
Norman Roy Blackwell Chairman
Juan Calafat Colombás Chief Operating Officer & Executive Director
Mark George Culmer Chief Financial Officer & Executive Director
Anita Margaret Frew Senior Independent Non-Executive Director
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