UPDATE 1-Lloyds secures Berlin bank licence as part of Brexit preparations -source [Reuters (UK)]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Reuters
UPDATE 1-Lloyds secures Berlin bank licence as part of Brexit preparations -source | Reuters 3 Min Read * Bank gets licence to protect against loss of EU market access * Financial firms ploughing on with worst-case contingencies * Rival RBS also closing in on EU license in Germany (Adds details, RBS licence update) By Sinead Cruise and Lawrence White LONDON, Jan 17 (Reuters) - Lloyds Banking Group has secured a banking licence for its new Berlin-based subsidiary, a source familiar with the matter told Reuters, as part of long-standing plans to Brexit-proof its business with European Union clients. Until now the lender’s Berlin office has run on a standard passporting licence that Lloyds - and other British lenders with customers in the EU - stand to lose when Britain leaves the bloc. With only 71 days to go until the planned March 29 departure, Britain’s banks are forging ahead with plans to ensure they can keep serving customers in the EU if political stalemate over the withdrawal ag
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- Lloyds Banking Group plc (NYSE: LYG) is now covered by analysts at Berenberg Bank. They set a "hold" rating and a $2.75 price target on the stock.MarketBeat
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LYG
Sec Filings
- 4/25/24 - Form 6-K
- 4/24/24 - Form 6-K
- 4/24/24 - Form 6-K
- LYG's page on the SEC website