Who we are

Lloyds Banking Group is a customer focused, sustainable, efficient and low risk UK financial services leader with distinctive capabilities and a clear purpose of Helping Britain Prosper. We are the largest UK retail and commercial financial services provider, with more than 25 million customers and a presence in nearly every community.

>25m

customers across 12 brands

#1

digital bank in the UK

£1.4 billion statutory profit for the year ended 31 December 2020.

£1.4bn

profit after tax in 2020

320

years of history

£1.4 billion statutory profit for the year ended 31 December 2020.

Our brands

What sets us apart

Our distinct business model and capabilities, as outlined below, give us a competitive advantage. Significant investment in transformation and digital in recent years, enabled by our efficiency, has positioned us well.

Continued investment will remain important to further build this advantage and enable us to continue to deliver for customers while also delivering sustainable and superior returns over the longer-term. 
 

  • Multi-brand proposition

    Multi-brand, multi-channel proposition with the UK's largest digital bank and branch network

     

    Operating in an integrated way through a range of distribution channels and brands ensures our customers can interact with us when and how they want and enables us to address the needs of different customer segments more effectively.

  • Customer focused

    Purpose-driven and customer focused culture

     

    Our clear purpose of Helping Britain Prosper is driving the business and our current focus on Helping Britain Recover is at the heart of our evolution of strategy.

  • Leading efficiency

    Market leading efficiency through tech-enabled productivity improvements

     

    Our simpler operating model and continued focus on efficiency provide a cost advantage, enabling us to invest more to the benefit of both customers and shareholders.

  • Customer franchise

    Differentiated and sustainable customer franchise with leading integrated propositions

     

    Our scale and reach across the UK means that our franchise extends to more than 25 million customers, with 17.4 million digitally active. We are uniquely positioned to serve our customers’ banking, insurance and wealth management needs in one place, through a comprehensive product range informed by customer analysis and insight.

  • Low risk business

    Prudent, low risk business with strong capital position

     

    Being low risk is fundamental to our business model. Our low risk appetite is reflected through the quality of our loan portfolio and underwriting criteria. Our financial strength has been transformed in recent years and our capital position is strong.

  • Rigorous execution

    Rigorous execution and management discipline

     

    Experience of delivering change in recent years provides benefit as we further transform the business.

  • Inclusive and diverse

    Inclusive and diverse organisation

     

    Being one of the largest employers in the country, we will further focus on developing an inclusive, diverse, skilled and future-ready workforce.

Our strategy

Strategic Review 2021 is the next stage of our journey and will deliver co-ordinated growth opportunities in our two core customer segments, supported by enhanced capabilities in four areas, to create the UK’s preferred financial partner for personal customers and the best bank for business. This is underpinned by strong environmental, social and governance focus to Help Britain Recover.

Our superior cost structure has enabled us to maintain high levels of strategic investment. We will invest around £0.9 billion this year to support the Strategic Review 2021 initiatives and the long-term strength of the business.
 

Read more about our strategy

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ESG information

Environmental, social and governance issues are an integral part of our wider strategy.

Read more
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Helping Britain Recover

See how we plan to Help Britain Recover from the impact of the coronavirus pandemic.

Read more
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Our leadership team

Delivering our vision and managing a more agile organisation. 

Read more

Our financial performance

"The long-run transformation of the Group has positioned the business well to address the challenges of the pandemic. We have made a strong start to the year with the results and on delivering Strategic Review 2021."

Robin Budenberg, Chair

 


 

We operate multiple brands through three core divisions 

Retail
 

Retail offers a broad range of financial service products to personal and business banking customers. Its aim is to be the preferred financial partner for personal customers, meeting their financial needs throughout their lifetime with relevant products and services. Retail operates a multi-brand and multi-channel strategy.
  

c. £40 billion
Exceeded target of mortgage lending to first time buyers by over 30% across 2018 to 2020

76 / 67
Record highs of net promoter scores across branch and digital


Statistics as of 31 December 2020

Commercial Banking

Commercial Banking has a client-led, low risk, capital-efficient strategy and is committed to becoming the best bank for business. Through its segmented client coverage model, it provides clients with a range of products and services such as lending, transaction banking, working capital management and risk management.
  

19%
Market share of SME lending
 

>£6 billion
Net SME and Mid Market lending target exceeded

Insurance and Wealth

Insurance and Wealth offers insurance, investment and wealth management products and services. It supports over 10 million customers with assets under administration of £172 billion and annualised annuity payments of over £1.1 billion. We aim to capture the considerable opportunities in pensions and financial planning.
  

15%
Achieved our Group Strategic Review 3 target market share in workplace pensions

1.5 million
New pension customers in Group Strategic Review 3 period

Solid business momentum with enhanced 2021 guidance

 

Solid business momentum:

•	Helping Britain Recover: continued support for customers
•	Strategic Review 2021 delivering momentum
•	Solid financial performance with balance sheet momentum
•	Strong capital position with 16.7% CET1 ratio
•	2021 guidance enhanced, though uncertainties remain

2021 guidance based on the Group's current economic assumptions:

•	Net interest margin now expected to be in excess of 245bps
•	Operating costs to reduce to c. £7.5 billion
•	Net asset quality ratio now expected to be below 25bps
•	RWAs to be broadly stable on 2020
•	Statutory RoTE now expected to be between 8% and 10%, excluding c. 2.5pp benefit from tax rate changes

Leads to: targeting medium-term statutory RoTE in excess of cost of equity