Lloyds Banking Group plc, a financial services group, provides a range of banking and financial services to individual and business customers in the U.K. The company’s main business activities are retail and commercial banking, general insurance, and life, pensions and investment provision. Services are offered through various brands, including Lloyds Bank, Halifax, Bank of Scotland, TSB and Scottish Widows, and a range of distribution channels, including the primary banking branch network in the U.K. and a digital, telephony, and mobile proposition. As of December 31, 2013, the company occupied 3,110 properties in the U.K. Of these, 892 were held as freeholds and 2,218 as leasehold. The majority of these properties are retail branches, distributed throughout England, Scotland, Wales and Northern Ireland. Other buildings include the company’s head office in the city of London with other customer service and support centers located to suit business needs and clustered in eight core geographic conurbations, such as London, Edinburgh, Glasgow, Midlands (Birmingham), Northwest (Chester and Manchester), West Yorkshire (Halifax and Leeds), South (Brighton and Andover) and Southwest (Bristol and Cardiff). Divisions As of December 31, 2013, the company’s four primary operating divisions included Retail; Commercial Banking; Wealth, Asset Finance and International; and Insurance. Retail This division provides banking, mortgages and other financial services to personal customers in the U.K. This division provides current accounts, savings, personal loans, credit cards, and mortgages in the U.K. With its stable of brands, including Lloyds Bank, Halifax, Bank of Scotland, and TSB, the company serves approximately 30 million customers through the branch network in the U.K. and digital, telephone and mobile services. This division is also a major general insurance and bancassurance distributor, offering a range of long-term savings, protection and general insurance products. Commercial Banking This division provides banking and related services to business clients, from small businesses to large corporates. This division has reshaped the small and medium-sized enterprises and mid markets segments to serve client needs and improved relationship returns in Global Corporates and Financial Institutions through continued focus on capital optimization. Wealth, Asset Finance and International This division provides private banking and asset management and asset finance primarily in the U.K. and internationally, and operates the company’s international retail businesses. Wealth: It includes the U.K. and International Wealth businesses, Scottish Widows Investment Partnership and St James’s Place. Asset Finance: It includes the U.K. and International Asset Finance and online deposit businesses. International: It includes banking businesses in Ireland, Europe, Asia, and the rest of the world (excluding businesses transferred to the Commercial Banking division in 2012). Insurance This division provides long-term savings, protection and investment products, as well as general insurance products to customers in the U.K. and Europe. Life, Pensions and Investments: The U.K. Life, Pensions and Investments business provides long-term savings, protection and investment products distributed through the bancassurance, intermediary and direct channels of the Lloyds Bank, TSB, Halifax, Bank of Scotland, and Scottish Widows brands. The European Life, Pensions and Investments business distributes products primarily in the German market under the Heidelberger Leben and Clerical Medical brands. In common with other life assurance companies in the U.K., the life and pensions business of each of the life assurance companies in the Lloyds Banking Group is written in a long-term business fund. The main long-term business funds are divided into one or both of With Profit and Non-Profit sub funds. Other life and pensions products are written from Non-Profit sub-funds. It includes unit-linked policies, annuities, term assurances and health insurance (under which a predetermined amount of benefit is payable in the event of an insured event such as being unable to work through sickness). General Insurance: The General Insurance business is a distributor of home insurance in the U.K., with products sold through the branch network, direct channels and strategic corporate partners. The business also has brokerage operations for personal and commercial insurances. It operates primarily under the Lloyds Bank, TSB, Halifax, and Bank of Scotland brands. Strategy The company’s strategy is to reshape the business portfolio to fit the company’s assets, capabilities and risk appetite; strengthen the group’s balance sheet and liquidity position; simplify the group to improve agility and efficiency; and invest to be the best bank for customers. History The company was founded in 1985. It was formerly known as Lloyds TSB Group plc and changed its name to Lloyds Banking Group plc in 2009.
lloyds banking group plc (LLOY:London)
25 Gresham Street
London, EC2V 7HN
Phone: 44 20 7626 1500
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