Lloyds Banking Group - Helping Britain Prosper30/03/2015
View Full Report
Click here to access the 2014 Responsible Business Review and 2014/2015 Helping Britain Prosper Plan Update.
2014 Responsible Business Review:
Lloyds Banking Group announces the publication of its 2014 Responsible Business Review which shows their key achievements last year, in particular, their progress against the 2014 Helping Britain Prosper Plan. Lloyds Banking Group believes that they can make their greatest contribution to society by helping Britain to prosper, and that means serving the needs of UK households, businesses and communities in a responsible way. Having a responsible approach to doing business is integral to everything that Lloyds Banking Group does and underpins their ambition to become the best bank for customers and their purpose of helping Britain to prosper.
This Review, together with online content which addresses many other issues, forms the full Responsible Business report for 2014. The Review covers the areas that customers and other stakeholders reported as being of most importance to them in 2014: treating customers fairly; being open and honest; responsible lending; building a more responsible culture. As well as these four areas, the Review includes a progress update on the 2014 Helping Britain Prosper Plan, which sets out seven key commitments and 26 'prosper metrics' covering the areas the Group believes it is best placed, as a financial services business, to address. The Plan is not driven by short-term financial imperatives. Rather it prioritises social and economic investments that can help create the foundations on which Britain can prosper.
Key highlights from 2014 include:
- More than 89,000 first-time buyers supported through delivering the most comprehensive mortgage proposition in the UK mortgage market (2014 target: >80,000)
- Increased amount of net lending to SMEs on an annual basis to £1.27bn (2014 total cumulative target: £1bn)
- 100% of Lloyds Scholars (from low income families) have secured a job within six months of graduating from University (2014 target: 90%)
- 949,600 paid volunteer hours (2014 cumulative target: 800,000)
- £3.9m raised by colleagues for the Charity of the Year, Alzheimer’s Society & Alzheimer’s Scotland - including Matched Giving (2014 target: £1.7m).
20 of the 25 targets set in 2014 were met or exceeded and all metrics have gone through an independent assurance process.
As a result of the overall performance, market changes and the next phase of the Group strategy, the Plan has been reshaped for 2015 to ensure it focuses on the right areas, builds on progress so far, and stretches the Group further. Four new metrics have been added to address support for smaller house builders, digital skills, international trade and infrastructure investment. Further details, including how the Plan is brought to life through case studies, can be found in the 2014/2015 Helping Britain Prosper Update available online.
The Helping Britain Prosper Plan will drive Lloyds Banking Group to achieve even more for its stakeholders over the next few years with progress against targets being reported on an annual basis.
All online content and documents referenced above can be found here
António Horta-Osório, Group Chief Executive, Lloyds Banking Group said: “The Helping Britain Prosper Plan makes best sense for our Group because of our scale and presence in communities across Britain. No other bank is better placed than Lloyds Banking Group to help Britain prosper. We are proud of what we have achieved so far, but know there is a lot more hard work ahead.”
View Full Report