Joint Statement from Lloyds Banking Group and the APPG on Fair Business Banking

Kevin Hollinrake MP, co-chair of the APPG on Fair Business Banking, and Charlie Nunn, group chief executive of Lloyds Banking Group, have held an introductory meeting at Charlie’s request to discuss the challenges facing the UK’s SMEs. Charlie reaffirmed Lloyds Banking Group’s commitment to support SMEs as one of the largest lenders to the sector in the UK and a key player in the government’s emergency lending schemes. Kevin invited Lloyds to work with the APPG to build on the successful provision of Bounce Back Loans and CBILS to improve access to finance and business opportunities for SMEs including through the APPG’s Bankers for Net Zero project. They also discussed a number of long-running issues arising from the historical fraud at HBOS Reading. Kevin urged Lloyds to publish in full the report of the Dame Linda Dobbs Review when it is completed, and welcomed Charlie’s personal commitment on progressing these issues. Charlie reaffirmed the Group’s full support for the independent processes in place to compensate victims and establish what happened. Charlie appreciated hearing the APPG’s concerns and recognised the valuable role Kevin and the APPG have played in campaigning for SMEs. They agreed to maintain a regular dialogue.