Lloyds Results Disappoint, But Analysts Remain Positive

Lloyd's third quarter results revealed yet another large charge for PPI mis-selling and disappointing revenue figures. But there are reasons to be cheerful say analysts

Erin Davis 29 October, 2015 | 12:01PM
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Lloyds' slow revenue growth and continued misconduct expenses in the third quarter were disappointing, but the bank's good underlying performance supports our long-term view and narrow moat rating. We plan to maintain our 98p fair value estimate.

Lloyds' long-term prospects remain bright

The biggest disappointment in Lloyds' (LLOY) results was on the revenue side. Revenue was down 4% for the three months ended September compared with the year-ago quarter.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Lloyds Banking Group PLC47.31 GBX0.97Rating

About Author

Erin Davis  is a senior banking analyst for Morningstar.

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