Lloyds Bank Commercial Banking - Committed to business growth
Andy Bishop, Head of Lloyds Banking Group Commercial Business Development:
We are excited to support the Finance Professional Show this year; it gives us a great opportunity to meet with those for whom raising finance is an important aspect of business life. The show enables us to demonstrate our experience in this arena supported by our large network of Lloyds Bank Commercial Banking relationship managers, many with specialisms in specific sectors including property, healthcare and manufacturing. Working closely with other divisions of the bank, such as Commercial Finance and Lex Autolease, our teams are able to provide flexible lending packages individually tailored to support customers across all SME sectors, where we continue to see net lending growth that is vital to supporting business growth across the UK - we look forward to meeting many of them on the day.
At Lloyds Bank Commercial Banking we’re committed to supporting customers and helping Britain prosper. As the largest lending banking group in the Funding for Lending Scheme (FLS), we’re helping to drive the economy by supporting businesses and households in our communities. Under FLS, we offer discounts of 1 per cent to clients for the life of their loans. Since launching our FLS offers in September 2012 we have committed £5 billion to our SME customers. As part of Lloyds Banking Group we’ve committed over £24 billion of new lending to British customers through FLS since September 2012; as of 30 June 2013, our total lending to UK households and businesses reported under FLS was almost £438 billion.
Our lending to small businesses in Britain over the last 12 months has grown by 5 per cent net, in a market that has declined by 3 per cent in the same period. We’re proud that we continue to approve eight out of ten small business loan and overdraft applications, and our local managers have lending authority for loans up to £500,000. We believe our on-going commitment to lending is leading the way to a more prosperous Britain and are proud to have been awarded Best Bank in the UK at the Euromoney Awards for Excellence 2013. To find out more visit www.lloydsbank.com/commercialbanking Lloyds Banking Group lending figures shown are correct as at 30 June 2013. “Largest lending banking group in the Funding for Lending Scheme” claim is based on the Bank of England’s Funding for Lending Scheme usage and lending data report as at 30 June 2013. Lloyds Banking Group was named Best Bank (UK) at the Euromoney Awards for Excellence, July 2013.