(Adds Lloyds declined to comment, background)
Feb 20 (Reuters) - Lloyds Banking Group Plc will unveil a 1 billion pound ($1.40 billion) share buyback plan with its annual results on Wednesday, Sky News reported. 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