--Lloyds Banking Group PLC is planning to buy 50,000 homes by the end of 2030 and rent them out, the Financial Times reports, citing internal documents.

--The bank, which previously announced its plan to move into the private home rental market through the Citra Living brand, expects to have 10,000 properties by the end of 2025, generating around 300 million pounds ($412.6 million) in pretax profit, the FT reports.

Full story: https://on.ft.com/3gep70a

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

August 19, 2021 02:20 ET (06:20 GMT)

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