Watch stocks you care about
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
The bank, which owns the Lloyds TSB, Halifax, Bank of Scotland and Scottish Widows brands, seems to have impressed investors with a series of resilient statements.
During February Lloyds Banking announced its 2011 results, which showed core profits had improved 3% to 6,349 million pounds. The group said various growth initiatives, cost reductions and "funding mix" improvements had mitigated the effects of a subdued U.K. economy and higher wholesale funding costs.
During May, Lloyds Banking's first-quarter statement revealed profits had dropped by 2% to 1,603 million pounds. However, the group also increased its current-year asset reduction guidance to at least 30 billion pounds from at least 25 billion pounds, and said the target should be reached in 2013 instead of 2014.
Then in July, Lloyds Banking disclosed half-year results that showed profits dropping by 231 million pounds to 2,977 million pounds. However, Antonio Horta-Osorio, the group's chief executive, did say:
"In the remainder of 2012, therefore, we expect a continued resilient underlying business performance and remain on track to meet the 2012 financial guidance we set out in our full-year 2011 results... Moreover, following a better-than-expected performance in the first half, and assuming current economic trends continue, we now anticipate that our 2012 impairment charge will be lower than our previous guidance."
Lloyds Banking's next update will be published on November 1st, which may reveal further news that can impress investors.
More blue-chip winners of 2012 are revealed in "Neil Woodford's Favorite Large-Caps," an exclusive Fool report that names the FTSE shares the market-trouncing City investor is backing today, and the investing logic behind them.
You can discover the potential winners Woodford favors right now by downloading this free report while it remains available.
Are you looking to profit from this uncertain economy? "10 Steps to Making a Million in the Market" is the very latest Motley Fool guide to help Britain invest. Better. We urge you to read the report today -- it's free.
Further Motley Fool investment opportunities:
- The FTSE 100 Share Warren Buffett Loves
- 8 Dividend Plays Held by Britain's Super-Investor
- What Every New Investor Needs to Know
Maynard does not own any share mentioned in this article.