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Article: Lloyds TSB will not go cap in hand to investors; BANKING.(Business)
- Article from:
- The Birmingham Post (England)
- Article date:
- May 7, 2008
CopyrightCOPYRIGHT 2008 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: By Nevill Boyd Maunsell Economics Editor
Lloyds TSB is not following the examples of The Royal Bank of Scotland and HBOS in tapping its shareholders for more capital to shore up its balance sheet.
Reporting a relatively modest write-down of pounds 387 million in the first quarter of this year, Tim Tookey, Lloyds TSB's acting finance director, said: "We are comfortable our capital position is pretty robust."
A decision, one way or the other, is expected from Barclays next week.
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