Lloyds TSB named Best Bank in the UK

The Euromoney Awards for Excellence – the most prestigious awards in the global banking industry calendar– recognises the achievements of retail and wholesale banks throughout Europe. Euromoney cited Lloyds TSB’s growing market share in the mortgage business as well as maintaining good asset quality vis a vis its major competitors. Lloyds TSB has also improved its capital efficiency and freed up a significant portion of its balance sheet by securitising more of its portfolio into the capital markets in the past 12 months. Euromoney further noted that “In a sea of unspectacular results Lloyds TSB’s performance deserves much credit.”

Manus Fullerton, Director of Corporate and Commercial Banking, Lloyds TSB Scotland said ‘This award is a fantastic accolade for Lloyds TSB, recognising the first-class contribution that the group as a whole has made to the UK financial services sector’ This is especially gratifying coming as it does on the heels of winning the CBI Finance Directors’ Excellence Awards “Bank of the Year” for the third year running.

Truett Tate, Group Executive Director, Wholesale and International Banking represented the Lloyds TSB Group on the podium last night. Receiving the award he said ‘I am absolutely delighted. This is welcome recognition that our strategy is working and that the market is noticing. We’ve always had a strong history as a market-leading retail bank but our presence in the wholesale sector was more that of a ‘sleeping giant’. It’s fair to say that the giant is well and truly awake! This award is a fantastic recognition of the success we have achieved across the whole business, with all of our divisions firing on all cylinders.’

Since 1992 Euromoney, the world’s leading financial markets magazine, has singled out the outstanding institutions in the financial services industry.

Clive Horwood, editor of Euromoney, said: “Picking the outstanding financial institutions in the world over the past 12 months has never been more difficult. The firms that stood out from the crowd were those that exhibited the ability to innovate, react at speed and make best use of the inherent strengths of their organization.”