Lloyds Bank makes a profit for the taxpayer
03 November 2010, 11:04 PM
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Lloyds Bank makes a profit for the taxpayer
As taxpayers we should be pleased this week as Lloyds banking group posted an update on their financial position.
Although the capital value of the taxpayer's stake has fallen around 8%, the fees Lloyds have paid to HM Gov have created a tax payer profit of around £1.1bn.
They are also £7bn ahead in repayments against their contractual requirement to repay central bank loans spread across the UK and Europe.
And their financial position is strengthening leading to a likely capital profit too.
So all good for the taxpayer
Although the capital value of the taxpayer's stake has fallen around 8%, the fees Lloyds have paid to HM Gov have created a tax payer profit of around £1.1bn.
They are also £7bn ahead in repayments against their contractual requirement to repay central bank loans spread across the UK and Europe.
And their financial position is strengthening leading to a likely capital profit too.
So all good for the taxpayer
04 November 2010, 12:51 AM
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As taxpayers we should be pleased this week as Lloyds banking group posted an update on their financial position.
Although the capital value of the taxpayer's stake has fallen around 8%, the fees Lloyds have paid to HM Gov have created a tax payer profit of around £1.1bn.
They are also £7bn ahead in repayments against their contractual requirement to repay central bank loans spread across the UK and Europe.
And their financial position is strengthening leading to a likely capital profit too.
So all good for the taxpayer
Although the capital value of the taxpayer's stake has fallen around 8%, the fees Lloyds have paid to HM Gov have created a tax payer profit of around £1.1bn.
They are also £7bn ahead in repayments against their contractual requirement to repay central bank loans spread across the UK and Europe.
And their financial position is strengthening leading to a likely capital profit too.
So all good for the taxpayer
It's not wealth being generated just money sloshing about.
04 November 2010, 02:40 AM
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Presumably they'll be facing a massive penalty for paying the loan off early then? 
Also, as I'm a tax payer and therefore the 'lender', can I pretend to be Dave off of Mumbai when they ring for a settlement figure...PLEASE!!!
Also, as I'm a tax payer and therefore the 'lender', can I pretend to be Dave off of Mumbai when they ring for a settlement figure...PLEASE!!!
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04 November 2010, 04:41 PM
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And quite right too.
My wife and daughter both work for Lloyds and neither are highly paid yet work bloody hard to achieve their bonus which contrary to what the newspapers say is not enormous at all. In fact it works out at a few per cent of their annual pay.
My elder daughter works for RBS as an FPM and often puts in a 10-12 hour day to achieve her targets . Do you really begrudge those that work hard to get on a little bonus.
Chip
My wife and daughter both work for Lloyds and neither are highly paid yet work bloody hard to achieve their bonus which contrary to what the newspapers say is not enormous at all. In fact it works out at a few per cent of their annual pay.
My elder daughter works for RBS as an FPM and often puts in a 10-12 hour day to achieve her targets . Do you really begrudge those that work hard to get on a little bonus.
Chip
04 November 2010, 09:05 PM
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05 November 2010, 12:13 AM
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Come on Les - you are smarter than that!!! That is Daily Mail ****.
The staff below director level will get some bonuses but as above it is small percentages. The directors and above are not receiving cash bonuses and have not for some time.
The staff below director level will get some bonuses but as above it is small percentages. The directors and above are not receiving cash bonuses and have not for some time.
05 November 2010, 09:55 AM
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And quite right too.
My wife and daughter both work for Lloyds and neither are highly paid yet work bloody hard to achieve their bonus which contrary to what the newspapers say is not enormous at all. In fact it works out at a few per cent of their annual pay.
My elder daughter works for RBS as an FPM and often puts in a 10-12 hour day to achieve her targets . Do you really begrudge those that work hard to get on a little bonus.
Chip
My wife and daughter both work for Lloyds and neither are highly paid yet work bloody hard to achieve their bonus which contrary to what the newspapers say is not enormous at all. In fact it works out at a few per cent of their annual pay.
My elder daughter works for RBS as an FPM and often puts in a 10-12 hour day to achieve her targets . Do you really begrudge those that work hard to get on a little bonus.
Chip
Les
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