4th May 2016 11:53
LONDON (Alliance News) - Lloyds Banking Group PLC said Non-Executive Director Sara Weller bought shares after the state-backed lender reported its first quarter profit fell by almost half last week.
Weller bought 100,000 shares at a price of 64.745 pence per share on Wednesday. Her total shareholding following the transaction was undisclosed.
Lloyds last Thursday said its first-quarter pretax profit fell by almost half, hit by market volatility and the cost of redeeming expensive debt with the aim of boosting interest margins.
Pretax profit fell to GBP654 million in the three months ended March 31, Lloyds said in a statement, from GBP1.21 billion the corresponding quarter a year earlier.
The stock down 0.7% at 65.18p Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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