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.”
Truett Tate, Group Executive Director, Wholesale and International Banking represented the Lloyds TSB Group on the podium and was extremely pleased with the industry recognition of Lloyds TSB’s success.
‘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!
‘We’ve hit the UK’s no 1 for business start-ups and we’ve grown our SME customer base to over 600,000. And at the other end of the scale, we’re regularly originating deals of £2billion plus, as well as structuring and issuing market leading securitisation transactions. 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. It was a period when everybody said the cycle had to come to an end – but it never did. In fact, business volumes and profitability rose to new heights. Credit markets remained benign. Equity markets surged. M&A Activity reached unprecedented levels, spurred by the boom in private equity. Global capital flows blossomed as the boundaries between developed and developing markets became ever more blurred. Wealth generation in emerging market countries brought huge opportunities to local and international players alike. 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.”
Subscribers to Euromoney can access all of the awards and citations online at www.euromoney.com today.