business model and strategy

Becoming the best bank for customers and our shareholders


Our business model

Becoming the best bank for customers means putting customers at the heart of everything we do, operating sustainably and responsibly and continuing to invest in our business strengths. We are delivering this through our differentiated, UK focused business model for a simple, low risk, retail and commercial bank.

What makes us different

Our strengths and capabilities set us apart from our competitors, providing advantage and differentiation and creating value for customers, shareholders and society.

Our strategy

In 2011, we outlined our strategy to become the best bank for customers and shareholders. Over the following three years the business was transformed with a reshaped, low risk portfolio, a strengthened balance sheet and a more efficient cost base. This firm foundation enabled us to launch the next phase of our strategy in 2014.

Our three-year plan is designed to deliver value and high quality experiences for customers as well as superior and sustainable financial performance, all within a prudent risk and control framework.

Our focus is to adapt to the changes in financial services brought about by shifts in technology, our customers’ changing preferences and the evolving competitive and regulatory environment. This will be achieved through three strategic priorities: creating the best customer experience; becoming simpler and more efficient; and delivering sustainable growth.

The combination of our three year plan with our strong foundations and differentiated business model, positions us well to deliver the best experience for customers alongside superior and sustainable returns for shareholders.