Lloyds Banking brings back dividend and snaps up investment and retirement platform Embark

0 4
The bank said it will use Embark’s technology as its new pensions and retirement platform () PLC declared its first interim dividend after the recent removal of the ’s cap and said it is buying investment and retirement platform Embark Group. The FTSE 100 lender said the £390mln acquisition would complete its offering in the growing mass market and self-directed wealth management market, using Embark’s technology as its new pensions and retirement platform. For the first half of the year, Lloyds reported a £3.9bn statutory pre-tax profit compared to a £0.6bn loss a year ago as the bank released £333mln of its credit impairment reserves made at the onset of the initial Coronavirus (COVID-19) crisis. Net income in the second quarter of £2.74bn was just ahead of City expectations, while a statutory pre-tax profit of £2.01bn beat the £1.4bn average analysts forecast. The bank said it is reintroducing a “progressive and sustainable” ordinary dividend polic
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.