News Tag: APS
December 6, 2009
According to The Sunday Times, over 1,000 investment bankers have left the Royal Bank of Scotland (RBS) after a heated row with the Treasury over bonuses.
The investment bankers account for less than 5% of staff in the bank’s investment division and comes as the Government plans to veto bonus payments at the bank.
The bank said it was planning bonuses ...
RBS bankers join rival firms over bonus row
by Kay Murchie
November 24, 2009
Lloyds Banking Group has today embarked on the biggest rights issue on record by asking shareholders to buy 1.34 new Lloyds shares for each one they already own.
The rights issue price of 37p is slightly higher than expected but still heavily discounted at 59.5% on Monday’s closing price of 91.47p.
According to Lloyds, the average retail shareholder would pay £366.7 ...
Lloyds outlines details of record rights issue
by Kay Murchie
November 3, 2009
A major overhaul of the UK banking industry has been confirmed by the Treasury today with plans for Royal Bank of Scotland (RBS) and Lloyds Banking Group to sell off bank branches.
The shake-up comes as the Government hopes to create more competition within the industry.
The Government holds a 70% stake in RBS and a 43% stake in Lloyds after last autumn’s ...
Treasury confirms RBS and Lloyds sell-offs
by Kay Murchie
October 30, 2009
According to press reports this evening, banking giant Lloyds is to pay the Government a fee of £2.5 billion to avoid the Government’s Asset Protection Scheme (APS).
For some time now, there have been reports that Lloyds Banking Group has been exploring ways to avoid the scheme, which insures against losses arising from toxic assets.
Lloyds enrolled in the scheme in March ...
Lloyds to pay £2.5bn to escape APS
by Kay Murchie
October 29, 2009
Lloyds Banking Group has today confirmed it is considering a rights issue, in order to repair its balance sheet which was battered following the takeover of rival HBOS, as well as avoiding participating in the Government’s Asset Protection Scheme (APS).
There has been speculation that the bank, which is 43% owned by the taxpayer, has been mulling over a multi-billion pounds rights ...
Lloyds confirms plans for rights issue
by Kay Murchie
October 25, 2009
Lloyds Banking Group is reported to be embarking on a massive fundraising scheme, in order to repair its balance sheet which was battered following the takeover of rival HBOS, as well as avoiding participating in the Government’s Asset Protection Scheme (APS) .
The bank, which is 43% owned by the taxpayer, is understood to be mulling over a £12 billion ...
Lloyds continues to explore ways to escape APS
by Kay Murchie
