Lloyds Report Good Pre-Tax Profits

The Lloyds Banking Group, comparative to last year’s less pleasant recordings, have a pre-tax profit of £2.1bn. This has been recorded despite the bank deciding to store £500m in light of the PPI compensation claims that appear to be never-ending and are now recorded as totalling £7.3bn.

“The state-backed bank said it had made a statutory pre-tax profit of £2.1bn in the first six months of 2013, compared to a loss in the same period last year of £456m.

The profit also reverses a £150m loss for the second half of 2012.

Lloyds said it had spent £1.28bn so far this year dealing with the claims, including £380m on the administration of the compensation process.

The bank, 39pc owned by the government, said it will start talks with regulators in the coming months about restarting its dividend.

Antonio Horta-Osorio, the Lloyds' chief executive, said in statement: 'We are now well on track to create a bank with a leading cost position, lower risk, a lower cost of equity, and products and services focused on our customers' needs, to deliver strong, stable and sustainable returns to our shareholders.'

Bad debts at Lloyds fell 43pc to £1.8bn.

The government is expected to start offloading its £20bn stake in the bank with a sale of around a quarter of its shares.

Mr Horta-Osorio said that the lender was now in a position to enable the state to reduce its stake.

'It is up to the government to decide how and when to do it. I believe we have completed the first phase ... the share price is now in a position where the government can return taxpayers' money at a profit,' he said.

The shares sale could start as early as next month.

George Osborne said in his Mansion House speech in June that the Government was "actively considering options for share sales. He added: 'Of course, we will only proceed if we get value for the taxpayer.'

Lloyds shares rose 4.5 - or 6.6pc - to 73p in early trading on Thursday, well above the 61.2p break-even threshold set by the Treasury for a disposal of some of the state's holding.

Mr Horta-Osorio must see at least one-third of the state's holding sold at above 61.2p or the bank's share price rise above 73.6p by 2018 in order to receive his annual bonus. The clauses were inserted this year following discussions between Lloyds and the government.

The Lloyds chief said the hopes to float TSB Bank by mid 2014. The initial public offering follows the collapse of the sale of 600 branches to the Co-operative Group. The disposal was imposed by Brussels following the state bailout of the lender during the 2008 financial crisis.”

Lloyds have been in the headlines a lot recently in light of the new European Union laws regarding domination of the banking sector in the UK and this is just another thing for the group to be pleased with.

If you are a new or existing Lloyds customer and would like to speak with a member of their customer services department regarding any of the products and services they offer or anything discussed in this article, contact their customer services department via the Lloyds TSB contact number. You can also read more about Lloyds and the repercussions of the new European laws Here.

This article was originally sourced from The Telegraph. 

HSBC Branch Closures Due to Protests

Following the string of companies revealed for not paying their fair share of tax, protestors took to the streets to make sure everyone knew just how much they disapproved of this behaviour. HSBC however were hit a little harder than others and several of their branches had to be shut because of the demonstrations.

“UK Uncut targeted 13 locations and succeeded in shutting branches in Glasgow, Sheffield, Brixton and Regent Street in London – branches which HSBC initially said would be "open as usual".

The group arrived at the Regent Street branch at about noon, 30 minutes after it had been shut ‘temporarily’, to protest against the government's welfare cuts by ‘transforming’ it into a food bank.

The campaigners highlighted research showing that 500,000 people regularly rely on food banks, with almost half saying it was because of cuts or delays in benefits payments.

The group of between 50 and 100 protesters at the central London branch accused HSBC of making matters worse by ‘dodging tax’.

The protesters set up a food bank on the street in front of the branch and put tape across the front door which had the message ‘Closed by UK Uncut’ written across it.

A HSBC spokesman said the branch ‘shut temporarily at 11.30am as a precaution’, adding: ‘It may open later.’

Earlier, the spokesman said: ‘Our branches will be open as usual this Saturday; however our clear priority is the safety of our customers and staff. We are aware that our branches are a focus of UK Uncut for the day and we will take any precautions necessary.’

On the HSBC website, the Saturday opening hours for the Regent Street branch are listed as 10am until 3pm.

Murray Worthy, a spokesman for UK Uncut taking part in the protest on Regent Street, said: ‘We came here to shut it down and it's shut down. We can't go on with business as usual with the big banks dodging tax, while hundreds of thousands of people go hungry. That's what we came here to do and that's what we've done.’

He added: ‘We're here today because we think it's an outrage that half a million people now rely on food banks in the UK.’

Worthy accused HSBC of using tax havens more than any other bank.

The HSBC spokesman added: ‘HSBC takes tax transparency very seriously. Globally, HSBC paid $9.3bn [£6.1 billion] in tax last year, up from $8bn in 2011, and just in the UK the bank paid a total of $1.6bn dollars in taxes.’”

For more information on the products and services offered by HSBC, contact their customer services department. Call the HSBC customer service number and be immediately connected to a member of their team. Also, read our News Feed for all of the latest news about HSBC.
This article was originally sourced from The Guardian.

The Other Side of Banks

There is often more than one level of customer service offered by businesses, i.e. if you are a loyal or ‘regular’ customer. When it comes to banks this loyalty basically equates to how much money you keep with your bank and you will find that the more you put in, the better service you get.

Some banks for instance have a separate section within each of the branches for their more, loyal, customers. Often these customers have a premier account or equivalent and therefore the section is titled thus and customers are greeted by a receptionist and shown into a waiting room. This has sofas, tea and coffee, water, books, magazines, an internet connection and a television with the news or other nondescript programme running for background noise. The idea is for the customer to feel at home and relaxed, in theory because they are looked after so well their money is also – one reflects the other.

Also in the room are customer service assistants, often very well presented and there to assist you with your every need. They will ensure that you have whatever drink you desire, that you’re comfortable and then will ask what your business is today. This allows them to make sure you speak with the right advisor – situated in offices just off this room, they wouldn’t want you to have to go back out of this area and mingle with the regular customers. They are also present to time manage for the advisors in meetings. It is a walk-in service and therefore there can be busier and quieter days, on those busier days it is the assistants’ job to manage the customers and keep them updated with how long they will wait. Knowing that you have a 30 minute wait makes it much easier to sit through. These advisors are there to help with literally anything, they strive to make your life as comfortable as possible and often go so far that they can begin to make you feel quite the opposite of welcome and comfortable!

The idea of their attention is firstly to make sure you are aware of their gratitude that you have chosen to bank with them but it also allows the advisors in meetings to provide exceptional service to whoever they’re with, without jeopardising the next customer’s service. Distractions like drinks and speaking with a customer service assistant who will keep you updated will keep their tolerance levels high. Happy customers are customers that remain with the bank for a long time.

To read more about customer services, read our articles on Ezine by following this link http://ezinearticles.com/?Customer-Relationship-Management-Software-Comparison&id=7680692

Payday Loan Advice

It’s easy to get sucked in to the idea that pay day loans are the way forward if you’re short of cash this month – we are inundated with emails, texts, phone calls and adverts on the television and internet offering us ‘free’ money, supposedly. The key is to not fall into this trap, payday loans are not free money; nothing in life is free! Payday loans in particular are renowned for extortionately high interest rates and if you do a basic comparison between the companies you will see that if you were to borrow, for example £100, the best deal out there will expect you to pay £125 back to the company. 25% interest rate on a loan that only lasts 30 days is absurd and ultimately you will end up worse off.

The major companies are all competing with each other to offer the best deal but the difference between the exact amount of money lent and returned is miniscule and therefore it is all about exposure and customer services. The greater exposure the company receives the more people are likely to borrow from them and this creates, in theory, a perpetual cycle of popularity and success. Therefore all of the companies offer the same ridiculous interest rates because they have to make money, that’s the basic rule of business and in order to gain said exposure initially they have to pay to advertise.

So, if you do find yourself in the position of needing a short-term loan are these companies the best way to get that money? The easy answer is no because the interest is so high and the pay-back time so short that the implications of a late payment is grave. However, this is easier said than done when you have bills to pay and mouths to feed. It’s also easy to recommend a budget that you stick to; look at how much you need each month and strive to stay within those boundaries but that again is easier said than done. When you do find yourself in the position of needing to borrow money from a payday loan company check the following things: how long the loan is for, exactly how much you need to borrow and don’t borrow anymore, how much the interest is going to be, how much extra interest will be whacked on top of the pay back total if you are late paying it back and how reputable the company is. Have a look on their websites, they all have review pages now and you can see how other customers have faired with them.

For more information, speak with the Wonga customer service department.

Managing Your Money Online

With the birth of the internet and smart phones and the society that we now live in where everyone is perpetually connected to the internet, there has developed a demand for internet banking. This means wherever you are in the world you can check your bank balance, pay your bills and generally make any alterations you may need to, via the internet with great ease. This is a brilliant tool that millions of people make use of everyday because it also allows for the exchange of money on a personal level as well as business.

However, as with anything there is always an opposite. For every positive there is a negative and in this instance that is that our bank accounts are also at a greater risk of being hacked. Online banking has given rise to the phenomena of ‘identity theft’ where either people or in some cases just computers, gain access to your account and use your money to make purchases. Hardly what you wanted was it?

Well the good news is that there are ways to prevent this from happening to you. Firstly, avoid using your mobile phone and other mobile devices to access your account. Regardless of how cautious you are, there will always be a risk of you having it stolen or you misplacing it and if this were to happen and all of your details are stored on the device, the thief or finder can use all of these details. Secondly, regularly changing your password and other log in information will make your account more secure and prevent computers that trawl through the internet looking for accounts to hack from finding yours.

Also be aware of both leaving your account logged in on your personal laptop and logging in on laptops that are used by several people. The first of these examples is fine largely but there is always a risk, it might sound extreme but how much worse would it be if your laptop was stolen and all of your bank details were available to the thief as well. The second example of logging in on public laptops means that anyone can access the laptop and all of the information on it so it is not worth running the risk of logging into your bank account.

For more information on how to manage your money online and keep yourself safe from hackers, visit www.ezine.co.uk.

Banking Customer Services

Now, if there was ever an establishment that demanded exceptional customer service it was banks. At first the connotations that derive from the phrase ‘customer service’ all surround a similar image – a company and their employees doing all they can to ensure a customer’s satisfaction with their visit to the business. This is taken one step further when transferred into the realms of banks.

Much like parents with their children, people with their money are unique and particular. Everyone has a slightly different opinion on the best way to keep their money or invest it and so on but basically everyone has a bank and everyone wants their money guaranteed to be there when they wish to withdraw it. This is incorporated into the umbrella of customer service – anything that includes dealing with a customer and/or their possessions is integral to customer service and certain standards of this service must be adhered to.

Banks are more than banks as well, you put your trust in them to undertake any dealings with your money – whether it is to send, receive or retain it – but you also trust them to advise you with things such as credit cards, mortgages, personal loans, home, car and contents insurance therefore they need to prove themselves to be trustworthy.

Since the invention of the cash machine – yet another example of a modern invention that has removed the need for a human to communicate with another human – it is rare in this day and age that people spend much time in banks speaking with the employees, but when they do it is vital that they receive high customer service. The way the high street has gone is that most of the shops all offer very similar products and services but with a slightly different, unique edge that tries to out-do the other shops; this is exactly the same for banks. As was previously stated, the vast majority of people have a bank and with there being a certain number of banks on the high street, the level of customer service has to be exceptionally high to beat the other competition.

The implications of poor customer service in the banking world are much greater than just losing customers. Not only does a loss of customers mean a dent in the bank’s reputation which will lead to more customers leaving or not choosing to join, it can also result in legal implications. If a bank makes a fatal mistake with customers’ money they are within their rights to take legal proceedings in order to relinquish these funds.

For more information on the customer service offered by banks, contact Lloyds TSB.