Shares in Lloyds Banking Group drop as lender warns of Russia cyber threat
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Shares in Bank of Scotland owner Lloyds Banking Group, dropped by over 11% yesterday as chief executive Charlie Nunn warned that the bank was at “at “heightened alert” of cyber attack in the wake of Russia’s invasion of Ukraine.
Mr Nunn said the banking group’s security defences were at a “heightened and elevated level” after Russian forces moved into Ukraine with sanctions imposed by the West on Moscow expected to lead to retaliatory cyber attacks.
He said that the bank had been “working closely” with the British Government over the last two weeks, The Herald reports.
Yesterday, Lloyds Banking Group posted its full-year results for 2021, revealing profits after tax of £5.9 billion.
Shares closed down 5.6p, or 10.7%, at 46.6p.
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