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UPDATE 1-Lloyds to sell 20 percent stake in St James's Place

Thomson ReutersMarch 11, 2013 14:30

* St James's Place stock up nearly 27 pct this year * Lloyds to sell at least 102 mln shares By Kylie MacLellan LONDON, March 11 (Reuters) - UK lender Lloyds plans to sell 20 percent of wealth manager St James's Place to focus on core banking and respond to regulatory pressure to strengthen its capital. The placing of at least 102 million shares would be worth just under 550 million pounds ($820 million) at St James's Place closing share price on Monday of 536.5 pence.

UPDATE 4-Lloyds mis-selling hit cools prospects for UK share sale

Thomson ReutersMarch 1, 2013 04:15

* Lloyds' PPI mis-selling bill rises to 6.8 bln stg * CEO 'very confident' taxpayers will get money bank * 2012 pretax profit 2.6 bln stg vs 2.4 bln forecast * UK Treasury says 'still work to be done' at bank * Shares fall as much as 8.6 pct By Matt Scuffham and Steve Slater

UPDATE 2-Ex-Lloyds Bank CEO says most PPI policies not mis-sold

Thomson ReutersFebruary 14, 2013 09:34

* Daniels says about half of PPI complaints are false * Daniels says most customers buying PPI got good value * Ombudsman data shows Lloyds loses 98 pct of cases * Lloyds has set aside 5.3 bln stg for compensation By Matt Scuffham LONDON, Feb 14 (Reuters) - The former head of Britain's biggest retail bank said the majority of insurance policies taken out on loans and mortgages were not mis-sold, blaming false claims for the rising bill for banks paying compensation.