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November 1, 2012updated 04 Apr 2017 3:32pm

Lloyds plans to develop WM arm on track

Lloyds Banking Group said in its Q3 results that it was making good progress in strengthening its wealth, asset finance and international arm.

By Lizabeth Davis

Lloyds Banking Group said in its Q3 results that it was making good progress in strengthening its wealth, asset finance and international arm.The bank said that it has delivered further above-market growth in customer deposits in the period, which reflected good growth in both its retail, and wealth, asset finance and international divisions. It reported that customer deposits, had grown by 4% since 31 December 2011 and increased by 6%, over the last 12 months.The UK banking group did not disclose much other information about its third quarter wealth division results.

Improving customer service

However, it said that steady progress was being made, particularly with the establishment of a new private banking client centre, which it said offers customers quicker access to advice and made the referral process from retail to its wealth business easier.The bank said that it wants to ensure the development of "compelling" customer propositions for its wealth division as part of its plan to restructure the businesses, originally reported in its first half results. The British financial institution said its main focus now for the divisions, is improving customer experience with robust plans to develop the services they offer. It also reported that by the end of 2012, the new private banking centre will be operating across the Lloyds TSB and the Halifax networks.

 

 

 

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