Buy Lloyds, Sell RBS, Says Investec – ValueWalk Premium
Underperformance by UK banks Lloyds Banking

Buy Lloyds, Sell RBS, Says Investec

Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) can return to positive EPS from 2014, while recovery at Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS) remains very long and hence patience is required, notes Investec analyst.

Ian Gordon of Investec in his research reports dated July 4, 2014 notes scrip issuance, and share sales to neutralize the capital impact of paying coupons on subordinated debt by Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) and Royal Bank . . .


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