Supporting business strategy

Lloyds Banking Group’s strategy focuses on building deep, long-lasting relationships with our customers in order to deliver high quality, sustainable results over time. We believe that corporate responsibility, built around the creation of colleague motivation, customer satisfaction and brand loyalty, has a major part to play in supporting our business strategy.

Against the backdrop of unprecedented market turbulence, our reputation for effective risk management is widely recognised. In 2008, Lloyds TSB was rated the sixth safest bank in the world by Global Finance and awarded the Reader’s Digest readers’ most trusted UK bank or building society for the eighth year running. Our commitment to corporate responsibility helps promote trust in the brand and reinforces customer loyalty and advocacy.

Lloyds Banking Group is rooted in local communities throughout the UK and we take our responsibilities to those communities very seriously. By investing in the communities where we operate we not only create economic value but we also make a positive social contribution. Through the Lloyds TSB Foundations, over £37 million was distributed to local charities in 2008.

Our corporate vision is to be recognised as the best financial services organisation by customers, colleagues and shareholders. Our corporate responsibility strategy is to support that vision by creating value for all our stakeholders through:

• increased colleague engagement;
• increased customer satisfaction;
• more effective risk management.

Our approach to embedding corporate responsibilty management over recent years has, we believe, helped us achieve competitive advantage.

All colleagues have a balanced scorecard of objectives that takes account of a range of business drivers rather than just pure financial measures.