Delivering on Our Purpose to Help Britain Prosper

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Delivering on Our Purpose to Help Britain Prosper

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.@LBGnews has published their latest #HelpingBritainProsper Plan Update. Read about the ways in which they are helping to address the social and economic issues that matter to Britain here: via @ReportAlert

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Thursday, February 22, 2018 - 8:00am

CAMPAIGN: ReportAlert Stakeholder Communications

CONTENT: Article

Lloyds Banking Group has published its latest Helping Britain Prosper Plan Update. The Plan is the Group’s response to help address the social and economic issues that matter to Britain. We believe no other bank is better placed to do this – we serve approximately 27 million customers, more than 1 million businesses and are the UK’s biggest digital bank. We can use our scale and reach to go beyond business as usual and address issues such as the housing shortage, sustainable business growth, social disadvantage and saving for the future.
The Prosper Plan Update, together with an overview of our approach to doing business responsibly in the Annual Report and Accounts, and further online Responsible Business content provides a detailed picture of the Group’s approach.

As a UK focused retail and commercial bank, we are inextricably linked to the British economy. Our success is the British economy’s success and we are fully committed to help people, businesses and communities in Britain prosper.”
António Horta-Osório, Group Chief Executive

For 2018 the Group has prioritised six areas where it feels it can make the biggest difference. The targets stretch to 2020, in line with the next phase of the Group’s strategic plan, and they support the UN Sustainable Development Goals.
2020 targets:
Helping Britain get a home 
To provide £20 billion of lending to help first-time buyers
Helping save for the future 
To hold £50 billion in assets on behalf of customers in retirement and investment products
Building digital skills
To train 1.8 million individuals, SMEs and charities in digital skills, including internet banking
Supporting businesses to start-up and grow
To increase the amount of net lending to start-up, SME and Mid Market businesses by £6 billion
Championing Britain’s Diversity
To have 40% of senior roles held by women and 10% of all roles held by Black, Asian and Minority Ethnic colleagues
Tacking disadvantage across Britain 
To support 7,500 charities as a result of our £100 million commitment to the Group’s independent charitable Foundations

2017 Helping Britain Prosper Plan performance highlights:
Helping people:

  • £13 billion of lending to first-time buyers
  • Created more than 1,200 new apprenticeship positions in the Group

Helping businesses

  • Supported more than 124,000 businesses to start-up
  • Delivered £1 billion of financial support to the manufacturing sector

Helping communities

  • 260,000 hours of colleague volunteering given to help good causes
  • Helped more than 2,800 charities to do more to tackle disadvantage in the UK through our independent charitable Foundations
  • Raised £4.8 million for our charity  partner Mental Health UK, enabling them to launch the UK’s first Mental Health and Money Advice Service

The Helping Britain Prosper Plan was launched in 2014 and is reviewed annually to ensure it keeps pace with a fast-changing Britain and changes in the Group. It supports our strategy to be the best bank for customers, colleagues, communities and shareholders and demonstrates publically how we are delivering our purpose to help Britain prosper.
The 2018 Plan also includes a new target to help provide power for 5 million homes by 2020, through our support for renewable energy projects in the UK. This reflects the Group’s commitment to helping the transition to the low carbon economy.

Sara Weller, Independent Director and Chairman of the Responsible Business Board Committee commented:

Our businesses have roots going back 250 years and have stood the test of time. Our purpose, to help Britain prosper, is more important than ever to the UK’s successful transformation into a digitally enabled low carbon economy.”
For more information

Media contacts
Laura Brodkin +44 20 7346 2200 / 07939 566017
Suvra Datta +44 20 8936 5856

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