Lloyds Banking Group announced as the University’s new banking provider
The University has selected Lloyds Banking Group as its new banking provider given its strong record in higher education, historic relationships with Leeds and its environmental and social policies.
Lloyds was chosen after a competitive tendering process which assessed bids from a range of global banking providers against their core service requirements, internet banking, client management, innovation, pricing and environmental, social and governance (ESG) issues.
In considering Lloyds’ selection as a banking provider, the University was impressed with its already strong collaborative relationships across public and private sector organisations in the region.
On environmental, social and governance (ESG) issues, Lloyds has the lowest fossil fuel investments of any of the major UK banks and is the first major UK bank to commit to no longer financing greenfield oil or gas developments. It already works with a number of universities on green finances and has built strategic partnerships to support the decarbonisation of domestic heating; accelerate the transition to net zero; and plant 10 million trees by 2030.
University Chief Financial Officer, Jane Madeley said: “We were extremely impressed with Lloyds’ experience and track record across a range of core capabilities essential for the University of Leeds, including their client management, innovation, and commitment to environmental, social and governance (ESG) issues. A dedicated onboarding team of specialists from Lloyds will be working with us as we transition our banking arrangements to them.”