September 20, 2014 6:03 AM ET

Banks

Company Overview of Lloyds Bank plc

Company Overview

Lloyds Bank plc provides various banking and financial services in the United Kingdom and internationally. The company operates in four segments: Retail; Commercial Banking; Wealth, Asset Finance, and International; and Insurance. Its personal products and services include current and saving accounts, credit cards, investment products, mortgages, personal loans, and insurance products, as well as travel services, such as travellers cheques and travel insurance. Its business banking products comprise start-ups and switchers business accounts, Islamic business accounts, education and credit union accounts, clients’ call and designated clients’ accounts, and private banking accounts, as well as...

25 Gresham Street

London,  EC2V 7HN

United Kingdom

Founded in 1765

97,869 Employees

Key Executives for Lloyds Bank plc

Chief Financial Officer
Age: 51
Executive Director and Group Chief Executive
Age: 50
Chief Executive of Commercial Banking
Head of Shipping
Head of Consumer
Compensation as of Fiscal Year 2014.

Lloyds Bank plc Key Developments

Lloyds Bank plc Launches New 2014 Student Current Account

Lloyds Bank plc has launched its new 2014 student current account, available to new and existing customers from August 2014. The account features a number of money saving benefits including a free NUS extra card for three years, which could save savvy students an average of GBP 525 a year at over 170 high street and online brands. The new account offers: a tiered interest and fee-free Planned Overdraft of up to GBP 2,000 (up to GBP 1,500 in years one to three and up to GBP 2,000 in years four to six); a free NUS extra card for three years, giving students access to exclusive discounts, offers and competitions from over 170 brands and retailers on the high street and online, including Amazon, Apple, ASOS, Co-operative Food and Odeon; and use of 'Everyday Offers' rewarding student account holders with cashback on their everyday spend at selected retailers, helping their money go further. The new account also offers: a range of ways to manage their money with Mobile Banking app and Pay a Contact services; and access to a student credit card to help build credit, with up to 56 days interest-free credit on purchases when paying the balance back in full and on time each month. There is also a limit of at least GBP 500 & extra protection when shop online.

Lloyds Bank plc Reports Unaudited Consolidated Earnings Results for the Half Year Ended June 30, 2014

Lloyds Bank plc reported unaudited consolidated earnings results for the half year ended June 30, 2014. For the period, the company reported net interest income of £5,077 million against £3,106 million a year ago. Total income was £14,994 million against £22,482 million a year ago. Profit before tax was £1,818 million against £2,547 million a year ago. Profit attributable to equity shareholders was £1,400 million against £1,930 million a year ago. Net cash provided by operating activities was £7,493 million against net cash used in operating activities of £13,826 million a year ago. Purchase of financial assets was £7,363 million against £25,776 million a year ago. Purchase of fixed assets was £1,651 million against £1,852 million a year ago.

Lloyds Banking Group Planning To List At Least 25% stake In TSB Bank

Lloyds Banking Group plc (LSE:LLOY) is planning to sell Lloyds Bank plc (TSB Bank). Reuters reported that Lloyds Banking Group will next week launch the sale of about 25% of TSB through a stock market flotation. TSB's Chief Executive, Paul Pester said in November 2013 taht Lloyds could initially sell between 30% and 50% of the business. But Lloyds Finance Director, George Culmer said in May 2014 that Lloyds Banking Group would sell a minimum of 25%. Banking industry sources said that the listing will take place before the end of June 2014 and is expected to value TSB below its book value of £1.5 billion, meaning Lloyds will make a loss on the sale. One of the sources said, “They're being a bit more realistic on valuation. There's just not appetite in the market. There's just a rash of consumer-exposed IPOs, and TSB is very consumer-focused.”

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 2, 2014
Shearings Holidays Limited
 

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