Lloyds Banking Group plc Appoints New Managing Director for Commercial Banking for Scotland, According to BAC Report

10 Jan 2013 • by Natalie Aster

LONDON - Alasdair Gardner became new managing director of Commercial Banking for Scotland according to recent Lloyds Banking Group press release. Mr. Gardner will be engaged in SME clients’ management in Scotland, helping companies with no more than GBP 750 M turnover. Previously Mr. Gardner was heading Lloyds’ oil and gas industry team and engaged in finance acquisition.

Lloyds Banking Group is in the middle of its strategic plan implementation. Its financial results reveal necessity for changes. After weak 2010 year Lloyds reshaped its strategies to regain profitability and stronger market position by 2014. The results for FY 2011 are weak: interest income declined by 10.3% to GBP 23.6 B, net interest income increased by 1.2% to GBP 12.7 B, both net income before taxes and net income fell below zero point to GBP (3.5) B and GBP (2.8) B, respectively. Interim results for the three periods of 2012 are also not impressive. The quarter ended September 2012 brought interest income of GBP 5.17 B, net interest income of GBP 4.66 B, net income before taxes of GBP (144) M and net income of GBP (377) M. While expecting flat performance for 2012, Lloyds expects moderate recovery of its financials in 2013.

Formed in 2009 and headquartered in London (UK), Lloyds Banking Group engages in provision of financial services across the UK and Scotland. The company also provides support to its clients running business in European Union. Company’s business can be divided into several segments: Retail (private clients), Wholesale (SME clients), Wealth & International (managing of foreign operations), Commercial (SME lending) and Insurance. The Group trades on London SE under the ticker LLOY.

Get full details on the company’s subsidiaries, segments, SWOT, news and experts’ more in the report “Lloyds Banking Group plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.

Report Details:

Lloyds Banking Group plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jan, 2013
Pages: 77

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