Is Lloyds Bank shutting down?
Bank of Scotland,
- 22 Grover Walk SS17 7LY, Corringham - 15/01/2024.
- 26 Bridge Street PE38 9DH, Downham Market - 25/03/2024.
- 102-104 Market Street NG20 8AD, Shirebrook - 25/03/2024.
- 3/5 Kirkgate LS21 3HN, Otley - 26/03/2024.
- 39 High Street EX10 8LQ, Sidmouth - 26/03/2024.
- 58 Beveridge Way DL5 4DS, Newton Aycliffe - 27/03/2024.
Lloyds Banking Group to close 166 branches in 2024 and 10 in 2025 - Which? News.
The company is very unlikely to encounter any financial trouble in the next two years. Lloyds Banking's Chance of financial distress is determined by interpolating and adjusting Lloyds Altman Z Score to account for off-balance-sheet items and missing or unfiled public information.
Lloyds Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority: all our savings accounts, current accounts and ISAs are covered by the FSCS.
Bank of Scotland, Halifax and Lloyds to close 176 branches in 2024/25 – here's the full list, plus alternatives. Bank of Scotland, Halifax and Lloyds, which are all part of the Lloyds Banking Group, will shut at least 176 of their bank branches in 2024 and 2025, after the Group announced a further 53 closures.
Lloyds Banking Group will close 123 of its UK branches in 2024 and about 1,600 jobs will be cut across its network as part of a shift towards online banking.
Based on 11 Wall Street analysts offering 12 month price targets for Lloyds Banking in the last 3 months. The average price target is 59.40p with a high forecast of 70.00p and a low forecast of 50.00p. The average price target represents a 15.52% change from the last price of 51.42p.
In 1918, Lloyds undertook what was to be its biggest takeover until the merger with TSB, some 80 years later.
The chain was acquired by asset management group Aurelius as part of a deal for McKesson Corporation's UK businesses in 2022.
Is my money safe with Lloyds Bank?
Your eligible deposits held by a UK establishment of Lloyds Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
| Bank | Forbes Advisor Rating | Products |
|---|---|---|
| Chase Bank | 5.0 | Checking, Savings, CDs |
| Bank of America | 4.2 | Checking, Savings, CDs |
| Wells Fargo Bank | 4.0 | Savings, checking, money market accounts, CDs |
| Citi® | 4.0 | Checking, savings, CDs |
If your local bank branch closes, you might consider searching for a nearby branch, finding a convenient ATM, banking online or switching to a different bank altogether.
If you hold money with a UK-authorised bank, building society or credit union that fails, we'll automatically compensate you. up to £85,000 per eligible person, per bank, building society or credit union. up to £170,000 for joint accounts.
The FSCS will compensate you up to £85,000 if you hold money with a UK authorised bank, building society or credit union and the institution fails. For a couple with a joint account or money with the same bank, they get protection up to £85,000 each, so £170,000 altogether.
| Agency | Long term | Rating report |
|---|---|---|
| Agency Standard & Poor's | Long term A+ | Rating report 1 December 2022 |
| Agency Moody's | Long term A1 | Rating report 30 October 2023 |
| Agency Fitch | Long term A+ | Rating report 19 August 2022 |
Lloyds Banking Group long term debt for 2023 was $106.783B, a 2.11% increase from 2022. Lloyds Banking Group long term debt for 2022 was $104.579B, a 10.17% decline from 2021. Lloyds Banking Group long term debt for 2021 was $116.416B, a 10.81% decline from 2020.
NatWest, RBS and Ulster Bank to close at least 100 branches in 2024/25 – here's the full list, plus alternatives. NatWest, Royal Bank of Scotland (RBS) and Ulster Bank, which are all part of the NatWest Group, will shut at least 100 of their bank branches in 2024/25, after RBS announced a further 18 closures.
Deposit cash with your debit card
We'll count your cash and give you a receipt. You'll have instant access to your money. You can pay in up to £2,955 a month and up to £20,000 a year. If you have a joint account, you can both deposit £2,955 a month and £20,000 per year.
Lloyds said the investigation related to its compliance with money laundering rules in Britain and the FCA's rules and principles of business, with a focus on its controls framework. The bank said it has been fully co-operating with the probe and is not able to estimate the potential financial impact, if any.
Could Lloyds Bank go bust?
Lloyds is now so bread and butter in its operation, and so monitored in its risk positions, that it would take an enormous systemic shock for it to go bust, and it wouldn't be the only bank, or the first in the sequence.
Two major California banks — Silicon Valley Bank and First Republic — have failed. While some banking industry leaders have said the immediate crisis is over, stock prices for other regional banks, including PacWest and Western Alliance, fell this week.
Ratings distribution
Lloyds Banking Group has an employee rating of 3.4 out of 5 stars, based on 5,595 company reviews on Glassdoor which indicates that most employees have a good working experience there.
Banks are often valued using a price-to-book (P/B) ratio. Lloyds has a P/B of 0.69, while Barclays trades at 0.39. On these two metrics, it's hard to rule in favour of Lloyds as a screaming buy. However, Lloyds does have a reputation as a defensive stock with a consistent dividend, which is worth keeping in mind.
Changes to structure
The business is reducing the existing 20 areas to form 10 regions, with 5 in Lloyds Bank, 1 in Bank of Scotland and 4 in Halifax. In addition, the size of most pools will increase leading to fewer numbers across the UK. Area Director Groups will become Regional Director Groups.
