Lloyds can find extra capital it needs without equity issue

(Source: Getty)

Lloyds has announced that it has concluded talks with the PRA and can meet its capital requirements without the issue of additional equity (release).

We continue to be confident in our capital position and as previously disclosed expect our estimated pro-forma fully loaded CRD IV core tier 1 ratio to be above 9 per cent by the end of 2013 and above 10 per cent by the end of 2014.

Group chief executive António Horta-Osório said:

We are pleased with the substantial progress being made in the delivery of our customer focused strategy. 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.