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Lloyds to unveil one billion pound share buyback plan - Sky News

Reuters
A man enters a Lloyds Bank branch in central London, Britain February 25, 2016. REUTERS/Paul Hackett (Reuters)

(Reuters) - Lloyds Banking Group Plc <LLOY.L> will unveil a 1 billion pound ($1.40 billion) share buyback plan with its annual results on Wednesday, Sky News reported. http://bit.ly/2EGU10g

Lloyds declined to comment on the report.

A buyback would chime in with the expectations of investors, who are also anticipating news from the British bank of a three-year plan centred on digital investment and growing its insurance and wealth businesses.

Lloyds, Britain's biggest mortgage lender, reported its highest full-year profit since 2006 last year.

Bailed out nine years ago in a 20 billion pound rescue during the financial crisis, it returned to full private ownership in May with the sale of the last of the government's stake.

($1 = 0.7152 pounds)

(Reporting by Ismail Shakil in Bengaluru and Emma Rumney in London; editing by John Stonestreet)