Lloyds has enough capital to meet new requirements

Suzie Neuwirth

LLOYDS Banking Group today announced that it would not need to issue new equity to met new capital requirements.

The British bank said that it expects to meet additional capital requirements through its core business and non-core asset disposals, after being informed of its position by the financial regulator.

The Bank of England told banks back in March that they would have to raise £25bn of extra capital to account for any future losses on loans.

“We are pleased with the substantial progress being made in the delivery of our customer focused strategy,” said chief executive António Horta-Osório.

“Our strong capital position enables the group to actively support growth and lending in the UK economy as well as delivering sustainable results for our shareholders.”