Lloyds Shocks As Payment-Protection Insurance Nears £10bn

Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) gets a Hold rating from Investec analyst Ian Gordon despite the bank reporting a fourth consecutive year of negative earnings. Ian Gordon of Investec in the recent report titled “No earnings = no dividends. Paradise lost or just postponed?” however retains Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) target price at 85p and prefers Lloyds to Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS) (AMS:RBS). Lloyds dragged by PPI charge In its pre-announced FY 13 earnings, Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) expects a ‘small’ statutory profit before tax, thanks to an additional…