Company: LLOBF
Filing Date: 2025-07-24
Form Type: 6-K
Source: 0001654954-25-008460
Chunk: 7

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 7
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 drive engagement with 20.9 million customers actively using our app, up c.3% year to date. We continue to target high-value consumer segments, building our Mass Affluent current account offering with the recent launch of our exciting Lloyds Premier proposition. We have continued to accelerate the shift to mobile-first as a means of improving our customer proposition, with our new digital remortgage journey driving a c.4 percentage point increase in more valuable direct-to-bank application share to c.25% of market. Simultaneously, we continue to enhance our distribution and optimise our cost-to-serve through the implementation of branch co-servicing, supporting a more than 40% increase in active customers served per distribution FTE since 2021.

In Insurance, Pensions and Investments (IP&I), we are reinforcing our competitive position in our chosen areas of strategic focus. We now have over 550,000 customers on our core app for workplace pension customers, driving unique digital engagement. We are continuing to embed IP&I products across banking journeys, with protection take-up rate for mortgage customers now at 20% in the first half of 2025, up 7 percentage points year on year.

In Commercial Banking, we are building a digital-led relationship bank and driving income diversification through capital-lite growth. In our Business and Commercial Banking franchise, by scaling digital services, we are improving client experience and lowering costs through streamlined journeys, with more than 40% of key servicing interactions now digitised. In Corporate and Institutional Banking, we are delivering on our ambition to become a broader solution provider and meet more of our customer needs. For example we increased foreign exchange volumes by 17% year-on-year and grew our Structured Finance sterling market share by 8 percentage points.

Leveraging our enablers to drive long-term competitive strength

Our track record of investment in technology, data and people is underpinning our ambitions to grow the business with sustained operating leverage. We are driving engagement through leading experiences on our platforms, with more than 95% of Retail sales now through digital channels. This is enabling us to build broader revenue opportunities by deepening relationships in high-value areas such as our Home and Travel eco-systems. At the same time we are taking organisational and systems steps to improve productivity, with run and change technology costs reducing more than 20% since 2021. Our technology leadership is being reinforced with increasing numbers of technology and data colleagues and a rapidly scaling Lloyds Technology Centre in