1

Lloyds Banking Group Plc

 2

Contents
Chapter 1....................................................................................................................................3

Introduction............................................................................................................................3

Background of Organization..................................................................................................4

PESTLE Analysis...................................................................................................................4

Political..............................................................................................................................4

Economical.........................................................................................................................5

Social..................................................................................................................................5

Technological.....................................................................................................................5

Environmental....................................................................................................................6

Legal...................................................................................................................................6

Chapter 2....................................................................................................................................6

Scenario Planning...................................................................................................................6

Porter’s five forces.................................................................................................................7

Threat of New Entrants......................................................................................................7

Threat of Substitutes..........................................................................................................7

Bargaining Power of Customers........................................................................................8

Bargaining Power of Suppliers..........................................................................................8

Competitive Rivalry...........................................................................................................8

Plan.........................................................................................................................................8

Info graphic and Description of Worlds...............................................................................10

Word 1: Mature world......................................................................................................10

World 2: Monopoly..........................................................................................................10

World 3: Lacking customers............................................................................................11

World 4: Not ready world................................................................................................11

Chapter 3..................................................................................................................................12

Recommendation..................................................................................................................12
 3

References................................................................................................................................13
 4

Executive Summary

Chapter 1
Introduction
Even the most skilled business executives are often perplexed by the difference between a
technique and a strategy when it relates to strategy. The company's mission and vision are
often conflated with strategy; however, this is not the case. Despite the company's goal and
mission, the plan outlines the ways by which such goals can be attained. A strategy is a set of
guiding principles that, if communicated and applied inside the organisation, create a design
that most facilitates decision-making, according to Watkins' definition. "A firm's long-term
strategy impacts how every employee at the company makes the decisions and how resources
are allocated," he explains. A strategy provides a framework for prioritising and taking
action. Rather than the other way around, a company's goals, vision, & value network shape
its strategy. It's possible to deduce a company's strategic direction by looking at how well
these factors line up. A plan cannot be devised without taking these elements into
consideration. Moreover, The role of different networking participants in generating and
keeping value is taken into account when formulating a strategy. While describing the
strategy-creation process, Watkins makes an implicit comment about why and how strategy
generally falls short of expectations. When considering why tactics fail, it is because the
aforementioned factors aren't taken into account during the creation process.

Itami and Numagami state the following: Strategy is not a one-size-fits-all. Long-term value
creation and capture may be difficult for an organisation that does not adapt its strategies to
changing conditions. Strategy has no value if it can be implemented indefinitely, which
explains why strategic management has been given more attention in business contexts. In
order to come up with the most effective approach, it's quite difficult to adapt it to changing
circumstances (Idenburg, 1993). Managers can use scenario planning as a method of
identifying and planning future approaches that can be employed in a variety of situations.
The goal of this analysis is to determine which future possibilities are most favourable for
Lloyds Banking Group in order to design the best possible strategy. Four potential situations
for which the company must be prepared will be identified through the scenario planning
process. The report's primary goals are to identify these situations and make suggestions for
 5

future strategic growth. The next section gives a brief history of Lloyds Banking Group,
while the other sections deal with the identification and analysis of several situations
(worlds). (Wikipedia, 2020)

Background of Organization
Lloyds Banking Group Plc (Lloyds) is indeed a financial services company that
predominantly operates in the United Kingdom (UK). Banking products offered by the bank
include savings accounts; credit/debit cards; unsecured loans; mortgages;
protection/investment; motor finance; bonds/syndicated loans; and other financial products.
Asset management, leases, financial markets services, foreign currency, and private equity
are some of the services offered by Lloyds. From Lloyds Bank to Scottish Widows to Halifax
to Lex Auto Lease to Bank of Scotland to MBNA, the company operates under a wide range
of brand names. Branches, ATMs, as well as digital platforms are all used to distribute these
goods and services. The headquarters of Lloyds are located in London, England.

Lloyds Banking Group plc's profitability will be directly impacted if it enters nations with
high tax rates. International trade and exports are hindered by high taxes. Companies like
Lloyds Banking Group plc. may benefit from lower taxes and higher profits that may be
invested in R&D. Tax laws for certain industries can also be studied to get a better sense of
the government's goals and interest in supporting new businesses. High import tariffs can also
complicate company by limiting exports and undermining ties with international trading
partners in the same way. (University, 2020)

PESTLE Analysis
An important strategic management and planning technique is PESTEL analysis. The macro
business environment is shaped by a variety of elements, including those in PESTEL
(political, economic, social, technical, environmental, and legal). Lloyds Banking Group plc.
works in a dynamic and complex environment defined by regulatory changes, increased
environmental movement, collective social tendencies, technology advancements, and an
ever-changing legal framework.

Political According to the PESTEL study, political concerns have a

significant impact on the long-term viability and profitability of
Lloyds Banking Group plc. Because of the company's global
reach, it is better informed about political shifts occurring around
the world. Systematic risk diversification is critical from a
political standpoint in today's rapidly shifting global economic
 6

climate.
Economical There are several economic variables that are crucial to Lloyds
Banking Group plc's success. These include the exchange rate, the
labour market, inflation and savings rates to name just a few. An
understanding of the economy helps Lloyds Banking Group plc.
develop more accurate predictions regarding industry and
organisational growth. Economic development has a direct impact
on how well an organisation performs.
Social Organizational culture is heavily influenced by the values and
trends of society. An in-depth PESTEL analysis can help Lloyds
Banking Group plc. develop successful marketing
communications and achieve its corporate goals by analysing
population trends, power structures and consumer purchasing
patterns and common values. Social and environmental data can
be used by Lloyds Banking Group plc to target specific
demographics of clients and increase the perceived value in their
offers.
Technological The final and final component of the PESTEL analysis is
'technology,' which comes in at number four. Considering
technological issues while making strategic decisions is crucial in
today's age of rapid technological progress and worldwide
technological dispersion. Lloyds Banking Group plc can benefit
from an in-depth analysis of the technology environment.
Environmental Because of the growing environmental consciousness and the
changing climate, 'environmental analysis' has become an
important part of the PESTEL study. When it comes to
environmental protection, different markets have varied standards,
norms, and regulations. In light of Lloyds Banking Group plc's
global scope, it is imperative that these distinctions are taken into
account. Before launching a new product or entering a new
market, a thorough environmental research must be conducted.
Legal This component, "legal," is the sixth one in PESTEL. Lloyds
Banking Group plc. will be unable to join a new consumer market
unless it does thorough study on the legal environment and
regulatory structure of that market. It's critical that you do your
homework to avoid getting into trouble with the law. Because of
Lloyds Banking Group plc's lack of expertise in this area, the
company's competitive advantage could be harmed, and its brand
could be tarnished as a result of violations of consumer,
employee, and environmental norms. Lloyds Banking Group plc

Political
The long-term viability and profit of Lloyds Banking Group plc are heavily influenced by
political issues, according to the PESTEL research. As a result of the corporation's
international presence, the company is more aware of political changes in different countries.
Diversification of systematic risks is essential in a changing international economic
 7

environment from a political perspective. A country's political climate is made up of a variety

of things. Group plc: Lloyds Banking Group High levels of political stability provide a
business climate that is predictable, safe, and easy to do business in. However, whenever
there is political turmoil, investors and stakeholders lose faith in economic and organisational
performance, which has a negative impact on the economy. (Henry, 2020)

Economical
Understanding economic issues such as the exchange rate, the labour market, inflation, and
savings rates, amongst other things, is critical for Lloyds Banking Group plc. Lloyds Banking
Group plc. can make more accurate projections about industry and organisation growth with
the support of a thorough knowledge of the economic environment. Organizational
performance is directly influenced by a country's economic growth. The Lloyds Banking
Group plc is well-positioned to benefit from expanding economies around the world. A
similar understanding of the stage of the industry's lifecycle is critical. Due to the saturation
of the market, entering an established industry can be more difficult than doing so in a start-
up.

Social
Values and trends in society have an enormous impact on organisational culture. A thorough
PESTEL research can assist Lloyds Banking Group plc. produce effective marketing
communications and achieve its corporate goals by analysing population changes, power
structures, consumer spending habits, and common values. Marketers at Lloyds Banking
Group plc can use data gleaned from social and environmental analyses to better target
specific demographics of customers and raise the perceived value of their offerings. For
global corporations like Lloyds Banking Group plc, demographic shifts such as population
ageing, migration patterns, and socioeconomic characteristics are critical considerations.
Demographic research can assist Lloyds Banking Group plc in determining which market
segments have the greatest potential for future expansion.

Technological
In the PESTEL study, 'technology' is the fourth and final element. In today's world of rapid
technological innovation and global technological dispersion, it is more critical than ever to
consider technological aspects while making strategic decisions. A thorough examination of
the technology environment can assist Lloyds Banking Group plc. gain advantages such as
increasing profitability, enhancing the innovation process, and improving operational
efficiency. Innovation in marketing tactics has been spurred by the advancement of
 8

communication and information technology. In today's corporate world, the usage of social
media is commonplace. (Smith, 2020)

Environmental
'Environmental analysis' has become an important aspect of the PESTEL study because of the
rise in environmental awareness and the changing climate. Varied markets have different
standards, rules, and regulations when it comes to environmental protection. Lloyds Banking
Group plc's global reach necessitates careful consideration of these distinctions in order to
avoid undesirable outcomes. Any new product line or market entry must be preceded by
thorough environmental investigation. Businesses have been forced to embrace creative
waste management and recycling strategies as a result of increasing environmental
degradation and technological innovation. As a matter of fact, in several nations, recycling is
almost an economic need. Furthermore, Lloyds Banking Group plc must implement efficient
waste management methods in all of its organisational units that are situated in or near
metropolitan areas. To preserve their cities, many countries have imposed tight regulations on
trash management. (Plc, 2020)

Legal
PESTEL's sixth factor is "legal." Unless Lloyds Banking Group plc. thoroughly researches
the legal environment & regulatory structure of a new consumer market, it will not be able to
enter it. In order to stay out of legal trouble, it's imperative that you do your research. Due to
Lloyds Banking Group plc lack's of knowledge in this area, it could lead to undesirable
outcomes, such as- hurting the company's competitive advantage due to intellectual property
violations and damaging the company's reputation because of violations of consumer,
employee and environmental standards. Some countries have severe requirements to
guarantee the safety of workers, thus Lloyds Banking Group plc must abide by these laws.
Lloyds Banking Group plc has a moral and ethical commitment to provide a safe workplace
for its employees. Human resource procedures must also take into account anti-discrimination
regulations (such as equal employment opportunity) because discrimination lawsuits against
employers tarnish the organization's reputation and impact its ability to recruit and keep
talent.
 9

Chapter 2
Scenario Planning
Businesses must be prepared for a variety of possible futures because no one can accurately
anticipate it. It is a strategy management tool used by strategic planners to discover and
explain multiple futures and to build diverse strategic directions for several probable futures.
Business may acquire control over an uncertain world through scenario planning, which helps
them identify many situations and choose the best steps to take in those futures they have
recognised. As a result of scenario preparation, leaders are better prepared to deal with
unexpected events. In the event of an emergency, the bosses will be able company respond
swiftly because they are prepared for a variety of possible outcomes and will not be forced to
panic because the issue & course of action will be documented. This gives the firms a
competitive advantage. A major negative of scenario planning is that it requires a lot of time
and effort. Scenario preparation necessitates a substantial time investment. Scenario planning
begins with identifying and establishing a timeframe for addressing the central topic.
Customer attitudes about subscription e-commerce will evolve over the next decade, asks
Lloyds Banking Group as part of its scenario planning process.  The second step of scenario
planning is also known as environmental scanning, and it focuses on identifying the various
elements that could have an impact on the business. Internal and external driving forces, as
well as those affecting the company as a whole, are all considered at this point in the process.
The external environment can be scanned using PESTLE and Porter's five forces analysis,
while internal influences can be discovered using SWOT.

Porter’s five forces

Lloyds Bank's Porter's Five Forces Analysis examines the industry and the company's
competitive environment. Based on factors such as the threat of new competitors, the threat
of substitutes, customers' and suppliers' negotiating power and competitive rivalry, the
analysis evaluates the company's position.
 10

Threat of New Entrants Financial and banking institution Personal and business
customers alike are served by Lloyds Banking
Corporation, a major UK financial services organisation.
Banking operations are concentrated in countries where
foreign cash is abundant.
Threat of Substitutes Financial services and banking services that Lloyds Bank
provides are tough to replace. There are internal changes
that are causing disruptions, rather than external ones.
Financial institutions like Lloyds Bank, which have been
around for decades or centuries, remain an important part
of the economy.
Bargaining Power of Customer negotiating power is not good for firms since it
Customers puts the pressure on profitability indicators. When it
comes to customer bargaining power, two things come
into play: price sensitivity and the ability to customise
products to meet specific needs.
Bargaining Power of Suppliers Customers of Lloyds Bank's financial service providers
can expect to find similar products and services on the
market. As a result of Lloyds Bank's role as an
aggregator, many suppliers rely on their products
reaching consumers.
Competitive Rivalry This means that the market share is evenly split among
the few established companies in financial services.
Because of the industry's close-knit structure, if one
business attempts to gain a strategic advantage, other
companies will immediately notice and change their own
plans appropriately.

Threat of New Entrants

Banking and financial company Lloyds Banking Corporation is a significant UK financial
services group that serves both personal and business customers. The company's operations
are centred around banks in countries where there is a lot of foreign currency. New entrants
to the financial services industry frequently reimagine how business is done through the
application of cutting-edge technology and the introduction of cutting-edge goods.

Threat of Substitutes
Lloyds Bank's goods include retail financial services and banking services, which are difficult
to substitute. Disruptions are occurring as a result of internal changes, not external ones.
There is still a core of financial institutions such Lloyds Bank that have been around for
decades or perhaps centuries. In addition, because customers have a high switching cost, they
are more likely to stick with things they have already purchased or banks they have already
enrolled in. Therefore, we may conclude that Lloyds Bank's competitive strategies are not
affected by the danger of substitutes.
 11

Bargaining Power of Customers

A high level of customer negotiating power is not advantageous to businesses because it
increases the pressure on profitability metrics. Customer negotiating power often comes from
two sources: price sensitivity and the ability to tailor items to individual needs. Customers
can't bargain on pricing because Lloyds Bank provides standard product offerings with pre-
determined costs. For high-ticket consumers, price rates & product customisation are
available, but the size of the operation and the quantity of money required make it a viable
proposition.

Bargaining Power of Suppliers

Lloyds Bank's financial service providers are generally typical in its offerings and provide
identical goods. A large number of suppliers rely on aggregator like Lloyds Bank to get their
products into the hands of consumers. There are many financial services businesses that
operate as funnels for the customer to select from a wide range of products and services,
stressing the importance of the industry. For market penetration, several suppliers rely on
Lloyds bank's vast client base.

Competitive Rivalry
In the finance industry, there are only a handful of organisations, and the share of the market
is evenly distributed among the established players. If one company tries to acquire a
strategic advantage, other companies will quickly notice and adjust their own plans
accordingly because of the industry's close-knit structure. NatWest, Barclays, HSBC, and
others are major competitors of Lloyds Bank. If a company needs to grow, it doesn't have to
fight with other businesses for market share.

Plan
Since subscription e-commerce is likely to grow dramatically in the near future, the number
of participants is the most important factor to take into consideration. Because both of Lloyds
Banking Group's products primarily target subscription e-commerce enterprises, an increase
in the number of rivals will have an effect on their profitability. Competitors with lower
transaction costs will put pressure on Lloyds Banking Group to lower its own rates, and the
bank will have to increase its marketing expenditures to compensate. (Team, 2020)

The next step in the planning process is to create various situations using a scenario matrix.
In order to pick two important uncertainties along an XY Plain's two axes, this procedure
 12

must be followed. Using this method, the management will be presented with four possible
outcomes for every pair of important uncertainties.

Key Driver Rank

The number of rivals 1
Subscription-based e-commerce 2
The evolution of payment methods 3
Penetration of the internet and mobile phone networks. 4
Subscription e-effect commerce's on enterprises 5
Modifications to the legislation and regulations 6
The state of the economy 7
Political uncertainty 8

The following important uncertainties were selected for the building of the scenario matrix.
 13

Info graphic and Description of Worlds

Word 1: Mature world
In word 1, subscription ecommerce has a high level of adoption and a large number of
competitors.  This world is a metaphor for the maturity stage of a industry life cycle, hence it
is referred to as the mature world. At this moment, the market is fully saturated. Businesses
are likely to work together to preserve their interests at this point, thus competition is
expected to be moderate.  Businesses' principal focus will be on reducing competition.
Customers' demand is high and stable, so businesses can generate maximum income and
profits at this stage, but the existing market has limited room for expansion. Because
subscription e-commerce is widely accepted by the public, more businesses will offer
subscription e-commerce services, and there is a high probability that Lloyds Banking
Group's goods will have a stable and large volume of business clients in the future. Because
of established players and popular items, the market will likely be dominated by existing
players, but the prices must be quite reasonable or the risk of losing clients is very significant.
Customers' bargaining power will be medium because most businesses will be delivering
standardised services, hence competition will be minimal. So, it's more difficult for customers
to get new and exciting deals.  Therefore, the company can look into ways to cut costs and
boost profits in this scenario. As a result, the corporation will be able to make more money
than its competitors because the pricing will be nearly comparable.
 14

World 2: Monopoly
World 2 will have fewer rivals and a greater acceptance of subscription e-commerce. When
subscription e-commerce is widely adopted, more businesses will begin to offer subscription-
based services. Lloyds Banking Group should expect a high amount of business customers
because there will be less competitors in this environment. This means that the corporation
will be earning more revenue and making more money. Buyers' negotiating power will be
reduced because there will be fewer rivals in this scenario. Lloyds Banking Group needs to be
ready to deal with the massive amounts of data that will be generated in the future. Providing
better customer service, improving the service quality, and so on are among the most
important issues. In this phase, it appears that the industry has entered the expansion phase of
its life cycle.  The level of competition rises as you progress through this stage. It's going to
be a medium to high risk for newcomers. Even though the corporation has the ability to
charge premium prices, the company must be prepared for lower-priced competition from
new competitors at any time in this unique case.
 15

World 3: Lacking customers

Subscription E-commerce usage and the number of competitors will be modest in World 3.
Businesses are unlikely to offer clients subscription items due to the low adoption rates of
subscription ecommerce around the world. In this world, the chances of attracting buyers
from the existing target segment are slim. It's possible to change the intended audience in this
universe. Alternatively, the corporation could focus on one-time payment alternatives or any
other option, such as subscriptions. An investment in marketing might be made at this stage
to raise awareness of the company model and its advantages. When firms are reluctant to
produce subscription products in this stage, the negotiating power of purchasers is quite
significant.  Customers will be more likely to try out a new business model if it provides them
appealing incentives and discounts. In this situation, the corporation is most likely going to be
losing money and declaring a net loss.  The company's losses can be minimised by reducing
costs and increasing operational efficiency. The organisation can save money by outsourcing
non-critical business tasks to low-cost abroad regions.  With the use of technology, it is also
possible to reduce expenditures. The company will save money by using chatbots instead of
employing a big number of customer care workers, negotiating better deals with suppliers,
and so on. If it is possible, the corporation can use a cost-plus pricing strategy to recover the
costs.
 16

World 4: Not ready world

Subscription ecommerce has a long way to go before it catches on, and as a result, there will
be many more competitors. Profitability is out of the question because of the fierceness of the
market competition. It is customary for companies to spend a lot of money promoting their
products because they are trying to attract customers who aren't yet ready to sign up for
subscriptions. Because of venture capitalists' propensity to burn through funds, only
companies supported by venture capitalists will succeed in this environment. In this day and
age, purchasers have tremendous negotiating power. In short, Lloyds Banking Group will
face a "do or die" scenario in this environment. The Lloyds Banking Group may want to look
at venture capital firms or other potential sources of large investments and be ready to burn
some real money in the process. This universe has a lesser threat of new entrants, but a far
 17

higher level of competition. In today's environment, cost-cutting is critical. In this context,

strategies such as outsourcing non-core services may be advantageous. The circumstance
resembles the introduction phase of the product life cycle, according to my understanding.

Chapter 3
Recommendation
Based on the assumptions in World 1, it appears that the industry is in an advanced level of
development. For this particular universe, it is necessary to build strategies that can be
implemented at an advanced maturity stage.

The Maturity phase of the firm life cycle is a good time to implement a diversification plan.
With new items, the company can break into new markets. This means that Lloyds Banking
Group should keep a careful eye on the industry and be prepared with innovative products
and be aware of potential markets in order to implement the plan as early as feasible when
scenario 1 occurs. Due of the high level of competition in World 1 and the need to avoid
losing money by competing with other businesses, this strategy is the best option for a
 18

business in this market. Consider entering new markets that are in the initial stages of the
industry's life cycle with current offers to boost total income.

The buyer's bargaining power will be medium in world 2 because there are fewer competitors
and subscription e-commerce usage is high. As a result, a premium pricing strategy is highly
advised. If you want to enlarge your consumer base, you need improve your products and
services as well. In this stage, it is strongly recommended to differentiate just on basis of the
product quality. It's possible to look into shorter processing timeframes, more generous return
policies, and the like. The threat of newcomers is particularly high at this time, so the
business should be prepared for rising competition.

It is recommended to use a cost-plus pricing strategy in world 3, where the number of rivals
and subscription e-commerce adoption are minimal. Subscription ecommerce enterprises,
however, aren't the only way to earn a steady stream of revenue. The Ansoff Matrix's market
penetration technique may be seen to be relevant in this universe as well as the previous one.
The company's current position in the world can be improved in order to obtain more clients.

The most important piece of advice in globe 4 to be prepared for the hefty advertising costs.

If you want to survive and expand in this situation, you'll need to put in a lot of money. There
will be no immediate financial gain for the corporation, but the company's customer base will
grow substantially, which will benefit the company in the long run.

Appendix
Presumptions on World 1 have seemed to indicate that the industry has reached a mature
level. For this particular universe, it is necessary to build strategies that can be implemented
at an advanced maturity stage.

The Maturity phase of the firm life cycle is a good time to implement a diversification plan.
With new products, the company can penetrate new markets. As a result, Alternate Labs must
keep a close eye on the industry and be prepared with new goods and be aware of potential
markets in order to begin implementing the plan as early as feasible when scenario 1 occurs.
When a company seeks to get more clients by offering competitive pricing or using other
strategies, competition heats up, which reduces the profitability of the company. This is a
primary reason for selecting this approach in World 1. To boost the company's overall
revenue, it will be beneficial to look into entering industries that are still in the initial stages
of their life cycle with present offers.
 19

The buyer's bargaining power will be medium in world 2 because there are fewer competitors
and subscription e-commerce usage is high. In this regard, it is best to use a premium pricing
model. Enhancing products and services is also a good strategy for increasing client base.
This is a great time to differentiate products based on their quality. It's possible to think about
things like faster processing times and more generous return policies. Because of the
heightened threat of new competitors in this stage, the corporation must be ready for
increased competition while going through this world.

It is recommended to use a cost-plus pricing strategy in world 3, where the number of rivals
as well as subscription e-commerce adoption are minimal. Also, it's a good idea to reach out
to customers outside of subscription ecommerce firms in order to produce more revenue.
Ansoff Matrix market penetration approach can be used to this world's situation, as can be
seen by reviewing the situation. Customers can be attracted to the company if its current
position is improved.

The most important piece of advice in globe 4 is to be ready for the hefty advertising costs.

If you want to survive and expand in this situation, you'll need to put in a lot of money. There
will be no immediate financial gain for the corporation, but the company's customer base will
grow substantially, which will benefit the company in the long run.
 20

References
Henry, Z., 2020. Lloyds Banking Group plc PESTEL Analysis. [Online]
Available at: https://www.case48.com/pestel-analysis/3182-Lloyds-Banking-Group-plc
[Accessed 04 August 2022].

Plc, C. B. G., 2020. Lloyds Banking Group Plc: Overview. [Online]

Available at: https://www.globaldata.com/company-profile/lloyds-banking-group-plc/
[Accessed 04 August 2022].

Smith, 2020. Lloyds Banking Group. [Online]

Available at: https://www.crunchbase.com/organization/lloyds-bank
[Accessed 04 August 2022].

Team, M. S., 2020. Lloyds Bank Porter Five Forces Analysis. [Online]
Available at: https://www.mbaskool.com/five-forces-analysis/companies/18408-lloyds-
bank.html#:~:text=The%20analysis%20focuses%20on%20measuring,of%20suppliers
%20and%20competitive%20rivalry.
[Accessed 04 August 2022].

University, F. F., 2020. Lloyds Banking Group plc PESTEL & Environment Analysis.
[Online]
Available at: http://fernfortuniversity.com/term-papers/pestel/nyse4/968-lloyds-banking-
group-plc.php
[Accessed 04 August 2022].

Wikipedia, 2020. Lloyds Banking Group. [Online]

Available at: https://en.wikipedia.org/wiki/Lloyds_Banking_Group
[Accessed 14 August 2022].