British banking giant Lloyds has injected €80m into its Spanish subsidiary in order to strengthen its solvency, reports Spanish daily Cinco Dias.
The measure will increase capital from €131m to €211m.
The newspaper also reports that the firm will close 2011 with a core capital ratio of more than 10%. Lloyds' main shareholder is the UK Treasury with a 41% stake following the merger of Lloyds TSB and Halifax in 2008.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Lloyds Bank International manages assets worth €2bn. Of that amount, it manages €1.9bn in credits. It has staff of 360 people in 29 offices in Spain.
CPO
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
