Lloyds Banking Group, RBS, Barclays and HSBC shares rise on FTSE 100 as Lloyds looks to make profit

Earlier this year Lloyds posted a loss of £6.3 billion in 2009, down from £6.7 billion in the previous year.

In a statement the bank said, “Overall, based on the Group’s current economic and regulatory assumptions which remain unchanged since our recent 2009 preliminary results announcement, the Group believes that it will be profitable on a combined businesses basis in 2010.”

By 09:45 shares in Lloyds Banking Group were up 8.53 per cent to 60.29 pence per share and RBS shares increased in value by 5.95 per cent to 44.50 pence per share.

Both Lloyds and RBS were bailed out by the British government during the financial crisis. The government currently holds a 43 per cent stake in Lloyds and an 81 per cent stake in RBS.

Those banks which did not need a bank bailout, Barclays and HSBC, also saw their shares rise. Barclays shares increased 2.32 per cent to 361.10 pence per share while HSBC shares rose 0.22 per cent to 682.60 pence per share.