Lloyds Bank to Pare Back Foreign Exchange Business, Sources Say --Reuters

Date : 01/21/2020 @ 5:54PM
Source : Dow Jones News
Stock : Lloyds Banking Group Plc (LYG)
Quote : 2.69  0.0 (0.00%) @ 9:56AM

Lloyds Bank to Pare Back Foreign Exchange Business, Sources Say --Reuters

Lloyds Banking (NYSE:LYG)
Historical Stock Chart

2 Months : From Dec 2019 to Feb 2020

Click Here for more Lloyds Banking Charts.

--Lloyds Banking Group (LYG) will likely pare back its foreign exchange business by year's end, Reuters reported Tuesday, citing "three sources familiar with the matter."

--The move comes amid lower profits for the business and increased competition, the report said.

--The bank could restrict its directly managed foreign exchange activities to G10 currencies, the report said, citing "a source familiar with the situation."

--A Lloyds's spokeswoman said the bank has no plans to change its offerings, according to the report.

 

Full story: https://www.reuters.com/article/us-lloyds-fx-business/british-bank-lloyds-plans-cuts-to-fx-business-sources-idUSKBN1ZK24O?il=0

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

January 21, 2020 12:39 ET (17:39 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Latest LYG Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.