Following a public commitment at the beginning of 2011 to reduce complaints, new data reflects that from July to December 2011, Lloyds Banking Group delivered a 23 per cent reduction in FSA reportable complaints, which fell from 173,176 to 132,939 year-on-year. This means that in 2011; we reduced complaints by 24% against a target reduction of 20 per cent. (These targets and performance are based on FSA reportable complaints and exclude PPI/ Insurance complaints)
"We want to be the best bank for customers and that means we must offer them the highest standards of service. I am pleased with the significant achievements we have made in reducing complaints in 2011. However, we need to keep improving and so we have set a new target for 2012 when we will aim to have no more than 1.3 complaints per 1000 accounts. If we can achieve this, we will be close to leading the industry.” António Horta-Osório, Chief Executive, Lloyds Banking Group
“Our customers have seen and experienced an improvement – they are telling us this in their feedback. Our priority now is to fix the issues which cause our customers to complain in the first place. We have made great progress but know there is a lot more to do." Martin Dodd, Customer Services Director, Lloyds Banking Group
As part of our strategy to become the best bank for customers we publicly committed to reduce the level of FSA reportable complaints, excluding PPI complaints, we receive by 20% per cent, between 2010 and 2011. We achieved a 24% per cent reduction, which has reduced our complaints per 1,000 accounts to only 1.5.
These results have been accomplished through several initiatives:
We are maintaining our focus on fixing the things which cause customers to complain in the first place, and we will continue to resolve the complaints we do receive intelligently and promptly. Our priorities for 2012 are built around putting our customer first to support us in becoming the best bank for customers.
To help you interpret the information we have provided a glossary of terms which explains key references in the publication reports.
The Financial Services Authority publishes collective complaints data covering all firms.
The Financial Ombudsman Service publishes separate complaints data on the number of complaints referred to it by individual firms.
To view complaints information for any firm of Lloyds Banking Group reporting more than 500 reportable complaints in the previous six month reporting period you can click on the links below each of the brands.