Lloyds Banking Group PLC executives Friday snapped up hundreds of thousands of shares in the bank, taking advantage of the dramatic falls across the sector as dismal earnings results and global debt fears were followed by a sell-off in global markets.
Non-executive director David Roberts led the pack, buying up 478,102 shares, while Antonio Lorenzo, head of Lloyds' retail banking division, bought 325,000 shares in the bank.
Chairman Winfried Bischoff bought 200,000 Lloyds shares, as did Chief Executive Antonio Horta-Osorio together with wife Ana Cristina Horta-Osorio, and non-executive director Timothy Ryan and his wife.
The shares were bought at prices between 31 pence and 34.74 pence, at the bottom of a 52-week range, and following a 9% fall Thursday after the bank reported a loss of 2.3 billion pounds for the first-half of the year. Two other executives also took the opportunity to buy.