London, Feb 12, 2026, 07:52 GMT — Premarket
- Lloyds finished Wednesday at 103.05p, gaining 0.24%.
- The bank plans to close 95 branches from May 2026 through March 2027, it said.
- Eyes are on the group’s share buyback program, with the annual report landing Friday.
Lloyds Banking Group plc (LLOY.L) was in focus before London trading began Thursday, after unveiling plans to shut 95 branches under its Lloyds, Halifax, and Bank of Scotland brands from May 2026 through March 2027.
Investors know the drill: it comes down to costs, distribution, and how customers act. With branch usage dropping as people turn to apps and call centres, Lloyds is following suit, ramping up its focus there.
There’s another angle: Lloyds is still returning cash to shareholders. That includes a share buyback, which reduces the number of shares out there—often bumping up earnings per share. But buybacks like this pull directly against capital requirements and the drive to boost loan growth.
Lloyds closed out Wednesday at 103.05 pence, gaining 0.24% for the session. Still, shares have slipped around 8% in the last five days. Over the past year, though, they’re sitting about 64% higher, MarketScreener data show.
Lloyds disclosed late Wednesday it repurchased 18 million shares, shelling out between 101.85 pence and 103.95 pence per share. The volume-weighted average price landed at 103.0987 pence. Those shares are set to be cancelled, according to the filing.
Lloyds’ share buyback programme permits the bank to buy back as much as £1.75 billion in ordinary stock, with a hard stop set for Dec. 31, 2026. Goldman Sachs International is on execution duty, according to Lloyds, managing the trades on its own. The programme still needs continuing sign-off from the Prudential Regulation Authority.
The group on Tuesday locked in final terms for a pair of bond offerings: a €750 million floating-rate callable note maturing in 2030, and a €750 million fixed-rate reset callable note set for 2037. Both issues fall under its £25 billion Euro Medium Term Note programme, according to a separate filing.
The group also flagged standard share awards and buys for its top brass as part of its employee share scheme. “PDMR” stands for person discharging managerial responsibilities—basically, a senior exec. Research Tree
But the immediate picture isn’t all heading in one direction. Lower interest rates may put pressure on net interest income—the difference between what banks make from loans and what they pay out on deposits. At the same time, a softer UK economy risks driving credit losses higher, chipping away at capital buffers.
This year, Lloyds wasted no time making a statement. On Jan. 29, the lender posted a 12% jump in annual profit—topping forecasts—and raised its profitability target. CEO Charlie Nunn credited “our continued business momentum and strategic delivery” as reasons to upgrade guidance. Reuters
Eyes are on Friday, when the annual report and accounts for 2025 are due—traditionally a source of fresh details on risk, capital, and conduct. After that, attention shifts to the April dividend schedule, with the group’s Q1 statement expected before the month’s out.
