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Lloyds confirms it remains on course to reinstate dividend in H2

Lloyds confirms it remains on course to reinstate dividend in H2

Lloyds has confirmed it remains on track to seek to return to dividend payment in the second half of this year following a 22% increase in underlying profit to £1.8 billion in the first quarter.

At 8.23, shares in Lloyds were up 3.17% at 77.97p.

‘This improvement was driven by net interest income in our key markets as well as a reduction in costs of 5% and in the impairment charge of 57%,’ said chief executive Antonio Horta-Osorio. 

‘The group made a statutory profit before tax of £1.36 billion, compared to a statutory loss of £1.2 billion in the fourth quarter of 2013.’

The company’s loan to deposit ratio fell from 113% to 111% over the quarter, down from 119% in the first quarter of 2013.  

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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