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Going Beyond Usual Business To Address Issues In Favour Of British Economy


Lloyds Banking Group sees itself as an entity that “inextricably linked to the British economy”, therefore it delivers on its commitments to make Britain prosper.

Dailycsr.com – 24 March 2018 – The Lloyds Banking Group comes out with the “latest Helping Britain Prosper Plan Update”, whereby taking a step to address Britain’s “social and economic issues”.
The bank believes, being “biggest digital bank” in the United Kingdom, to be in the best place for serving around “approximately 27 million customers” along with over a million businesses. It said:
“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 said “Prosper Plan Update” also provides an overview of the bank’s responsible business approach mentioned in its “Annual Report and Accounts”. Furthermore, the efforts are extended through an “online Responsible Business content” giving out “a detailed picture of the Group’s approach”. In the words of the chief executive of the Group, António Horta-Osório:
“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.”
For the year of 2018, the group has recognised six priority areas wherein it hopes to “make the biggest difference”. As a result, the targets have been stretched to 2020, keeping them in line with the “strategic” plans’ next phase undertaken by the Group which also supports the United Nation’s “Sustainable Development Goals”.
Here are some of the targets for 2020 set by the Group, as mentioned by Lloyds Banking Group:
“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”
Below are some of the highlights of the Group’s performance in “2017 Helping Britain Prosper Plan”, as mentioned by Lloyds Banking Group:
“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”
In a comment, the Chairman as well as the Independent Director of the “Responsible Business Board Committee”, Sara Weller stated:
“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.”