James Leal
James Leal
improve income lots questions
What would BBVA do with Lloyds? Will it improve the cost/income ratio, which is already very low? There are lots of unanswered questions there.
cost efficiency issue program results royal share telling
The results are fine. The issue is they are not telling us anything we don't already know ... we had a share buyback from Royal Bank, we had a cost efficiency program from Lloyds, but nothing new from HBOS.
announced came cost cutting last line price program results run several stock strong
RBS had very strong results and announced a big new buyback, while Lloyds TSB came out with a cost cutting program - HBOS is just in line after those performances, and its stock price has had a very strong run in the last several months.
expectation further high performed point position reasonable size street terms tricky
There's a reasonable expectation that at some point there will be further consolidation and Lloyds, of all the high street banks, is probably in the most tricky position in terms of how it's performed and the size of its dividend, and for that reason it's more vulnerable.
company negative rails results run seems strong
This company seems to run on rails - the results are very strong and there are no negative surprises.
bid candidates coming deal good less market
The market is very good at coming up with bid candidates but is less good at coming up with...why a deal should happen.