Helping businesses grow sustainably, especially Manufacturing businesses, is one of the key challenges the Group has committed to address, through:
· Providing £1bn of financial support for the UK manufacturing sector in 2017
· Training 1,000 manufacturing apprentices, graduates and engineers by 2020, as a result of the Group’s £1m annual investment in the Lloyds Bank Advanced Manufacturing Centre
The Group’s manufacturing targets reflect the complete support it gives the sector, from lending through to talent development at its Advanced Manufacturing Training Centre in Coventry. In 2016, the Group provided £1.2bn in new funding to Britain’s manufacturing businesses, exceeding the target set, and helping support a crucial sector of the UK economy.
Today’s announcement demonstrates the Group’s continued commitment to go beyond business-as-usual activities to help businesses, people and communities to address the economic challenges facing Britain today.
No other bank is better placed to do this. Lloyds Banking Group serves approximately 25 million customers and one million small businesses; and its independent charitable Foundations work closely with thousands of charities across the UK. The Group has used this reach to provide increasing support since the Plan was launched in 2014.
This year’s Helping Britain Prosper Plan contains 22 targets, responding to the changing social and economic needs of the UK.
The Helping Britain Prosper Plan 2017 commits to:
· Helping Businesses – of all types and sizes by offering them the funding and support to grow.
· Helping People – buy their first home, plan for later life and provide support to those looking for a rewarding job.
· Helping Communities – address inequality, support disadvantage and champion Britain’s diversity.
The Group has achieved a clear majority of the 2016 targets (20 of 24) demonstrating both the Group’s commitment but also the stretching nature of the targets. In 2015 the Group achieved 27 out of 28 and in 2014 achieved 20 out of 25.
António Horta-Osório, Chief Executive of Lloyds Banking Group said: “The Helping Britain Prosper Plan captures the commitments we’re making to help the country economically and socially, which as a UK focused retail and commercial bank we are uniquely placed to do.”
Read more at http://www.connectingindustry.com/FactoryEquipment/lloyds-banking-group-updates-manufacturing-targets.aspx?utm_source=rss&utm_medium=rss
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