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Lloyds TSB boss in house price warning
Evening Standard 17 Dec 2008
Sir Victor Blank, chairman of Lloyds TSB, today said he suspects house prices could fall by up to another 10% in 2009.
His view echoed that of rival banker John Varley, chief executive of Barclays, who warned prices could drop another 10%-15% in the coming year.
Blank also said he does not believe Lloyds, still in the process of taking over HBOS, will need more Government capital.
Last week HBOS issued a downbeat trading statement. Some analysts calculated it had lost
£2 billion in the last two months.
Between them, Lloyds TSB and HBOS have received £17 billion from the taxpayer.
Reader views (1)
Blank has shafted the shareholders in Lloyds TSB. Sucking up to Brown at a cocktail party has cost pensioners their dividends. He told them in June that Lloyds had not been badly hit by the credit crunch so people held on.
- Mordwinoff, Lisle FRANCE, 17/12/2008 17:37
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