Lloyds Ahead of Its Lending Target Plan: Report

LloydsLloyds Banking Group was asked to lend more than £1 billion to British manufacturers in one year's time from last September. But the company is proud to announce that it has achieved the target in just nine month's time. It is three months ahead of its target.

According to the information provided by the bank, this year-long manufacturing commitment was launched last September with the help of which more than 2,500 firms across the UK had benefited. Now the bank is looking forward to expand its network of support staff. It is training more relationship managers so that the manufacturing sector could get an extra help.

At the same time, Lloyds Bank has also received propel of bids for its Australian asset finance and commercial lending arms that initially were valued at more than A$1bn (£591 million) to the businesses.

It has been informed by the sources that when 39% of this bank's share belongs to the taxpayers, it is planning to pass on its Capital Finance and BoS International divisions. As a result of this, the bank will be able to concentrate more upon its lending to UK households and businesses.

Earlier this month, Chief executive Antonio Horta-Osorio said that the lender has already withdrawn its name from 17 markets and now is looking forward to minimize its international coverage to less than 10 countries by next year.