Lloyds Banking Group
| Industry:Banking & Financial Services | ISIN:GB0008706128 | Country:UK | CRR:C |
Company Profile:
Lloyds Banking Group, formerly Lloyds TSB Group, is a United Kingdom-based financial services group providing a range of banking and financial services, primarily in the United Kingdom, to personal and corporate customers. The company operates in three divisions: UK Retail Banking, Insurance and Investments, and Wholesale and International Banking. Its main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. On January 16, 2009, Lloyds Banking Group plc acquired HBOS.
Strengths/weaknesses profile:
Strengths:
- implementation of Equator Principles fostering the consideration of environmental and social aspects in project finance
- reasonable initiatives to encourage work-life balance of staff
- group-wide implementation of a strategy for addressing climate change and related sector-specific risks
- integration of environmental and social aspects into asset management
Weaknesses:
- large-scale staff redundancies in recent years
- lack of transparency regarding measures taken to guarantee responsible sales practicesn
Reasons for inclusion in the Index:
Lloyds TSB has integrated environmental criteria into its lending to a notable extent and thus exerts an active influence on shaping the investments which it finances in an environmentally sound way.
Company website:www.lloydstsb.com