Lloyds Banking Group plc provides a range of banking and financial services to individual and business customers in the United Kingdom (U.K.) and in certain locations overseas. The company’s major business activities are retail and commercial banking and long-term savings, protection and investment. Services are offered through various brands, including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows, and through a range of distribution channels, including the major branch network in the U.K. and a digital proposition. As of December 31, 2014, the company occupied 2,448 properties in the U.K. Of these, 727 were held as freeholds and 1,721 as leasehold. The majority of these properties are retail branches, distributed throughout England, Scotland, Wales, and Northern Ireland. Other buildings include the Lloyds Banking Group’s head office in the city of London with other customer service and support centers located to suit business needs but clustered largely in eight core geographic conurbations – London, Edinburgh, Glasgow, Midlands (Birmingham), Northwest (Chester and Manchester), West Yorkshire (Halifax and Leeds), South (Brighton and Andover), and Southwest (Bristol and Cardiff). Segments As of December 31, 2014, the company’s activities were organized into five segments: Retail, Commercial Banking, Consumer Finance, Insurance, and TSB. Retail This segment provides banking, mortgages, and other financial services to personal customers in the U.K. This segment offers a range of financial service products, including current accounts, savings, personal loans, and mortgages, to the U.K. personal customers, including wealth and small business customers. It is also a distributor of insurance, protection and credit cards, and a range of long-term savings and investment products. Commercial Banking This segment provides banking and related services to business clients, from small businesses to large corporates. This segment is client led, focusing on small and medium sized enterprise, mid markets, global corporates, and financial institution clients providing products across lending, global transaction banking, financial markets and debt capital markets and private equity financing through Lloyds Development Capital, the U.K. regional private equity provider, which is part of the company. Consumer Finance This segment provides asset finance solutions, credit card products, and merchant services to consumers and commercial customers. This segment comprises the company’s consumer and corporate Credit Card businesses, along with Black Horse motor financing and Lex Autolease car leasing businesses in Asset Finance. Consumer Cards: Includes the U.K. consumer credit cards issuer. Commercial Cards: Includes the U.K. corporate cards issuing businesses and the U.K. merchant services acquiring business. Asset Finance: Includes the U.K. motor finance lending and leasing businesses, and the European businesses providing retail mortgages and deposit taking services in the Netherlands, and deposit taking, and motor finance based in Germany. Insurance This segment provides a range of insurance, protection and retirement products to retail and corporate customers, either direct or through the company’s banking branches or through intermediary networks. This segment is focused on four primary markets, such as corporate pensions, protection, retirement and home insurance, to enable customers to protect and prepare for a secure financial future. Life, Pensions and Investments: The Life, Pensions and Investments business provides long-term savings, investment and protection products distributed through intermediaries, direct channels of Scottish Widows and bancassurance through Lloyds Bank, Halifax and Bank of Scotland 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. Examples include 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). The benefits provided by linked policies are wholly or partly determined by reference to a specific portfolio of assets known as unit-linked funds. General Insurance: The General Insurance business is a major provider 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, Halifax and Bank of Scotland brands. TSB This segment is a separately listed multi-channel retail banking business with branches in England, Wales, and Scotland. TSB serves retail and small business customers, providing a range of retail banking products. TSB has a digital distribution platform and four telephony contact centers. Strategy The company’s strategy is focused upon delivering value and high quality experiences for customers alongside superior and sustainable financial performance within a prudent risk and conduct framework. 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. The company was incorporated as a public limited company and registered in Scotland under the UK Companies Act 1985 in 1985.
lloyds banking group plc-adr
25 Gresham Street
London, EC2V 7HN
Phone: 44 20 7626 1500
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