Lloyds Banking Group (LLOY.L,LYG) in its update on capital position, said that it continues to be confident in its capital position and as previously disclosed expect its estimated pro-forma fully loaded CRD IV core tier 1 ratio to be above 9 per cent by the end of 2013 and above 10 per cent by the end of 2014.
The company said it expects to meet its additional capital requirements through its strongly capital generative core business, continued progress in executing the Group's customer focused strategy and further capital accretive non-core asset disposals.
The company expects the additional capital requirements to be met without recourse to further equity issuance or the utilisation of additional contingent capital securities.
The company noted that it has been informed as to the outcome of the Prudential Regulation Authority's or PRA considerations in relation to its capital position.
Group Chief Executive António Horta-Osório said, "We are pleased with the substantial progress being made in the delivery of our customer focused strategy. Our strong capital position enables the Group to actively support growth and lending in the UK economy as well as delivering sustainable results for our shareholders."
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