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

LLOYDS BANKING GROUP PLC

(LLOY)
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COVID bank loan demand should ease in coming months, says Bank of England

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08/07/2020 | 09:07am EDT
A pigeon stands in front of the Bank of England in London

Demand in Britain for corporate credit to survive the COVID-19 pandemic should ease when government-backed loan schemes start winding down later this year, a senior Bank of England official said on Friday.

Businesses have raised over 70 billion pounds of net additional financing from banks since March, most of that through government-backed loan guarantee schemes.

"Once those schemes stop we will really test banks' lending appetite," Alex Brazier, the BoE's executive director for financial stability, told a BoE online event.

"Hopefully by the time those schemes begin to roll off, we will see credit demand begin to ease," he said, adding that the focus would then switch to companies raising new equity on markets to grow and to reduce debt.

Provisions for losses on loans across Britain's five main banks have already reached $22 billion.

"Markets are expecting them to take about 50 billion pounds of losses, and they can comfortably absorb those in their buffers of capital that they hold, so they don't need to cut back on lending," Brazier said.

Parts of the financial market became dysfunctional in March when the pandemic lockdown began, Brazier said.

Money market funds across the world saw big outflows during a "dash for cash" that could have become worse had central banks not stepped in to buy bonds to ease the strain, he said.

"We haven't forgotten that and we are working with other central banks and with market regulators around the world, because it was a global issue, to fully understand what happened and to try and put reforms together to try and stop it from happening again."

By Huw Jones

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -1.17% 104.6 Delayed Quote.-41.77%
HSBC HOLDINGS PLC 0.18% 325.55 Delayed Quote.-45.00%
LLOYDS BANKING GROUP PLC -1.33% 27.785 Delayed Quote.-55.54%
NATWEST GROUP PLC -1.16% 110.6 Delayed Quote.-53.97%
STANDARD CHARTERED PLC 1.29% 400.9 Delayed Quote.-43.73%
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Financials
Sales 2020 15 256 M 19 910 M 19 910 M
Net income 2020 249 M 325 M 325 M
Net Debt 2020 - - -
P/E ratio 2020 63,6x
Yield 2020 1,74%
Capitalization 19 660 M 25 670 M 25 659 M
Capi. / Sales 2020 1,29x
Capi. / Sales 2021 1,26x
Nbr of Employees 63 069
Free-Float 99,6%
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Technical analysis trends LLOYDS BANKING GROUP PLC
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 38,00 GBX
Last Close Price 27,79 GBX
Spread / Highest target 123%
Spread / Average Target 36,8%
Spread / Lowest Target -37,3%
EPS Revisions
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
William Leon David Chalmers Chief Financial Officer & Executive Director
John Chambers Group Chief Information Officer
Sector and Competitors