Lloyds Banking (NYSE:LYG)
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2 Months : From Dec 2019 to Feb 2020
--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 email@example.com
(END) Dow Jones Newswires
January 21, 2020 12:39 ET (17:39 GMT)
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