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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
