There are a number of reasons why I invest in Lloyds Banking Group plc (LON:LLOY).
Firstly, I have always banked with Lloyds. They’ve been my main retail bank, even at times when I’ve tested new upstarts such as Monzo. I purchase my car insurance from them, I think they have excellent customer service, and their online banking and apps are quite good. I would also arrange a mortgage through them if and when the time comes to purchase my own home.
Secondly, they’re a steady performer. There’s nothing flashy about Lloyds Bank. They’re a retail bank that offers the products and services that you would expect from a bank.
Thirdly, the company has a good dividend policy, and is focused on growing profits in a sustainable and risk averse way.
Finally, the main reason that I started investing in LLOY shares is that I was gifted 150 from my late Aunt’s estate. I’d always wanted to hold shares, but I wasn’t sure where to start. This certainly helped me undertstand the process a little more and gave me a pathway to start building my portfolio.