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

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 6
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We remain focused on helping every UK household access quality and affordable housing. We have now lent over £100 billion to first time buyers and supported over £20 billion of funding to the social housing sector since 2018. In the first half of 2025 we announced a partnership with the Royal Foundation's Homewards programme and through this provided £50 million in new lending to deliver more UK homes to help tackle homelessness.

We are continuing to drive financial empowerment for our customers. For example, our new Ready Made Pensions product is a simple, long-term financial planning solution that is particularly useful for those who do not benefit from auto-enrolment. Of the more than 4,000 accounts opened since launch, c.40% are self-employed customers.

Supporting the transition to net zero remains a key focus as well as a significant strategic and commercial opportunity for the Group. So far in 2025 we have provided c.£9 billion of sustainable financing, taking the total to over £57 billion since 2022. We provided £60 million of funding through our partnership with the National Wealth Fund to support the sustainable retrofit of thousands of social homes across London and Southeast. We also acted as Global Co-ordinator on the first Blue Bond (water-related Green Bond) issued by a corporate client in sterling.

**Second phase of purpose-driven strategy, continued strong momentum**

In 2024, we completed the first chapter of our five year strategic plan, driving positive change at scale and returning the business to growth. We are now accelerating our progress to drive long-term competitive advantage and deliver on our ambitious 2026 targets. We are driving growth in high value areas, deepening customer relationships and strengthening cross-Group collaboration, whilst continuing to grow the core scale franchise. This momentum underpins our confidence in generating more than £1.5 billion of additional revenues from strategic initiatives by 2026. So far we have generated over £1 billion in additional annualised revenues.

GROUP CHIEF EXECUTIVE'S STATEMENT (continued)

We also remain highly focused on driving operating leverage through cost and capital efficiency. Since 2021 we have delivered around £1.5 billion of gross cost saves through efficiency and productivity gains alongside £20 billion of RWA optimisation through enhanced capabilities, data improvements and risk reduction transactions.

Delivering broad-based income growth and operating leverage

We are growing our franchise through the development of innovative propositions and enhanced capabilities. As the UK's largest digital bank, we are committed to delivering best-in-class digital experiences to