February 20, 2018 / 9:11 PM / a year ago

UPDATE 1-Britain's Lloyds to unveil 1 bln stg share buyback plan - Sky News

(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

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