What lessons have we learned on how to manage business risk?

Joanne Williamson,
Lloyds TSB

The economic  climate continues to be tough for many of our customers, and, although conditions are improving, the situation isn’t likely to change overnight.  However,we remain keen to support businesses that can demonstrate sustainable cash generation and a clear vision for growth.

Our response to the current economic challenges and our approach to risk management are based on a deep assessment of our customers wider management team.  That means; we look for good people managing businesses with a good operating model across a wide range of sectors .We have moved away from accepting the position of commodity provider and are developing relationships where we can build a true partnership for the future.

Having merged our teams with Bank of Scotland we have increased the breadth and depth of our support for businesses in the region.  Our customers need us to be trusted advisors/ partners and they need care, understanding and expertise to support them through these difficult times and through recovery. That’s not just about lending, it’s about managing the whole relationship brilliantly; staying close and in touch; understanding the challenges they are facing in their respective markets; and having knowledge of their business structure and strategy. We are seeing many opportunities to reinforce our commitment to existing customers and attract new prospects to Lloyds TSB Corporate Markets