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RBC analysts have warned expectations for share buybacks by Lloyds Banking Group PLC (LSE:LLOY) ahead are too high given uncertainty around the UK's motor finance probe. Pointing to consensus expectations for a new £1.8 billion buyback to be unveiled in full-year results, RBC forecast the figure at £1.0 billion.

Lloyds Banking Group Pioneers Future of Banking with Strategic Tech Investments and Digital Initiatives Lloyds Banking Group Pioneers Future of Banking with Strategic Tech Investments and Digital Initiatives

Dublin, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The "UK Retail Banking: Competitor Benchmarking 2024" report has been added to ResearchAndMarkets.com's offering. This report discusses the financial performance of the top 15 banks in the UK, looking at market shares for key retail banking products as well as underlying financial ratios. It analyzes the makeup of banks' customer bases as well as how su...

Lloyds Banking Group PLC (LSE:LLOY) shares risk further pressure until clarity surfaces on the Financial Conduct Authority's motor finance commission probe and redress, analysts say. Following a spate of updates surrounding the investigation this week, Jefferies analysts noted investors would “understandably” be drawn to stocks seen as less exposed.

The Financial Conduct Authority (FCA) has proposed to extend the deadline for lenders to handle complaints surrounding motor finance agreements involving non-discretionary commission arrangements. Under the proposals, affected firms will have to either May 31, 2025, or December 4, 2025, to provide final responses to motor finance complaints.

JPMorgan Chase is pushing further into the UK retail bank market with the launch of its first credit card some three years after it started taking deposits. The US's largest bank and credit card issuer, JP Morgan is initially offering the card to 25,000 customers following a pilot with its staff.

Lloyds Banking Group PLC (LSE:LLOY) has added an app that tops benefits and other financial support customers might be eligible to claim. Council tax discounts, energy grants, winter fuel payments and pension credits available to a customer will be flagged by the app, which Lloyds said has already helped thousands of people.

Lloyds Banking Group PLC (LSE:LLOY) is allegedly swamping a no-fee no lawyer making motor finance mis-selling claims with paper documents to slow up the process, according to a report today. Courmacs Legal told the Telegraph it was receiving ‘truckloads' of legal letters every day from Black Horse, Lloyds' finance arm.