Halifax:
The Group’s challenger brand
David Nicholson
Group Director, Halifax Community Bank
25 April 2012
Becoming the best bank for customers
Our Lloyds Banking Group strategy:
• Strengthening our balance sheet
“With over 30 million customers, we
• Paying back the taxpayer
are uniquely placed to unlock the
• Reshaping our portfolio
potential of families, businesses and
• Verde
the communities we serve, making a
• Focus on core business
significant contribution to the future
• Simplifying the Group
strength and prosperity of the UK.”
• Operations and processes
• Getting it right first time
• Investing for future growth
• Commitment to branches and multi-brand... And Bancassurance
• Investing in colleagues and communities
A key role in our multi-brand strategy
Halifax: The Group’s Challenger Brand
Re-invigorated the brand –
“the people who give you extra”
Rewarding,
great value products
Keeping it simple
and straightforward
Upbeat, friendly
and professional colleagues
2011: the Group is already delivering
• We’re now in a significantly stronger financial position
• We’ve strengthened our balance sheet
• We’ve significantly improved our capital and liquidity positions
• We’ve exceeded our SME lending and complaints reduction targets
2011: Halifax – a great big beast!
• Group - £3.5bn loss, largely due to PPI provision
• Retail profit - £3.6bn… and Halifax delivered a significant part of that profit
• 2.9m main bankers… 120,000 growth in 2011
• No.1 choice for savers… savings balances £7bn growth in 2011
• Direct mortgage growth at 8% in 2011 in a flat market … we helped 23,000
customers buy a home through Halifax
• Complaints reduced by a third in Halifax Community Bank
• All while integrating!
Halifax: Our bulging trophy cabinet
Best Cash ISA
Provider
Best Current
Account
Best Overall
Lender
Best Fixed Rate
Mortgage
Best Cash
ISA Provider
Best Fixed Rate
Account Provider
The bank that most
rewards loyalty
Best Current
Account Provider
(credit interest)
Rewards Clarity
Credit Card
Best Current Best Student
Account
Account
Switching
Best
Customer
Service
We’re getting the message across
 December saw Halifax receive more positive press coverage than any
other bank thanks to our savers’ prize draw
 January – 287 mentions worth £2.5m… great reviews for our switching
campaign… and 144 best buys!
 March – more positive coverage for Halifax ISAs than any other bank
Best bank for customers in 2012
• Halifax no1 for switchers! Most successful campaign in six years
• General Insurance ‘Fixed Premiums’ proposition
• Savings balances up £574m in Q1 - 750,000 Savers Prize Draw registrations
• Tax year end – more prize draw, extended opening, record service scores
• Mortgages – home buying expertise and first time buyer support
• Multi-channel – unique apps, including Halifax Home Finder
Keeping up the momentum in 2012
• £1.7bn savings from our Group Simplification programme – reinvesting a third
• We’re investing over £100m in 2012 for Halifax customers
• 100 fixes already delivered since migration… loads more to come
– ISA transfers and redesignations… complaints down by 62% per 1,000
– More counter system improvements to speed up transactions
– Fully automated process for Term Deposit Maturities
– Simplified account closures
• Pilot of extended Saturday opening hours
• Multi-channel is key: significant growth of online users… 29,000 signed up in Q1
• New-look branches to support the challenger brand and self-service
Upbeat, friendly and professional
We’re building the most professionally qualified
workforce in the industry
• Branch Managers
• Financial Advisers
• Mortgage Advisers
• Banking Advisers – 67 already accredited
All professional by end of 2012
Clear commitments
• Fastest growing UK bank for main banking
• Number one on the high street for mortgages and savings
• Fastest growing multi-channel bank
• Bancassurance growth