LLOYDS BANK PLC
Company Information
- Company Number
- 00002065
- Registered Address
- 25 Gresham Street, London, EC2V 7HN
- Status
- Active
- Employee Count
- 65399.0
- Turnover
- 18367000000.0
- EBITDA
- 9907000000.0
Additional Details
- Company Type
- Public limited Company
- Incorporated On
- 20 April 1865
- Nature of Business
- 64191 - Banks
- Industries
- Financial Services
- Region
- London
Company Location
Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 10 | 97% | 2% | 1% | 3% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 10 | 96% | 3% | 1% | 4% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 12 | 95% | 3% | 2% | 4% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 11 | 95% | 3% | 2% | 5% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 12 | 94% | 4% | 2% | 6% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 13 | 91% | 6% | 3% | 5% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 16 | 90% | 7% | 3% | 11% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 21 | 88% | 7% | 5% | 10% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 22 | 86% | 7% | 7% | 11% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 25 | 84% | 8% | 8% | 13% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 24 | 85% | 7% | 8% | 13% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 26 | 80% | 11% | 9% | 18% |
Company Summary
LLOYDS BANK PLC is a British multinational banking and financial services company headquartered in London, United Kingdom
It is one of the largest and oldest banks in the UK, tracing its roots back to 1765
The bank offers a wide range of financial products and services including personal and business banking, insurance, investments, and wealth management
In terms of sustainability, LLOYDS BANK PLC is committed to being a responsible and sustainable business
They have a comprehensive sustainability program in place, with a focus on reducing their environmental impact, promoting diversity and inclusion, and supporting local communities
The bank has set ambitious targets to reduce their carbon emissions, increase their renewable energy usage, and decrease their waste production
LLOYDS BANK PLC also offers several sustainable products and services to their customers
These include green mortgages, which offer lower interest rates for energy-efficient properties, and sustainable investments, which allow customers to invest in environmentally and socially responsible companies
The key people at LLOYDS BANK PLC include António Horta-Osório, the Group Chief Executive Officer, and William Chalmers, the Group Chief Financial Officer
They are supported by a team of experienced executives and directors who are responsible for the bank's operations and strategic direction
To contact LLOYDS BANK PLC, individuals can visit their website at www.lloydsbank.com or call their customer service hotline at 0345 300 0000
Their registered office address is 25 Gresham Street, London EC2V 7HN, United Kingdom
In conclusion, LLOYDS BANK PLC is a leading banking and financial services company in the UK, with a strong commitment to sustainability and responsible business practices
Through their sustainability program and range of sustainable products and services, they are making a positive impact on the environment and society
Company Review
Trend Analysis
The data shows a consistent decrease in the average time taken for LLOYDS BANK PLC to pay invoices to suppliers over the past six years. This downward trend suggests that the company is actively working towards paying invoices more promptly.
Volatility Analysis
The volatility in the data is relatively low, with small changes in the percentages of invoices paid within different time periods. However, there is a noticeable decrease in the percentage of invoices paid later than 60 days in the most recent period, indicating that the company has made significant improvements in this area.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are 30 days after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In some circumstances, Lloyds Bank Plc agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Invoice Receipt Date We are currently only able to record the date of receipt of invoices for circa 72% of reportable invoices in this report. Where the date we receive an invoice is not available, we have reported on the date of the invoice itself, as we consider this the most justifiable alternative. Unknown payment terms For certain suppliers, our systems do not currently capture details of the payment terms in place under qualifying contracts with those suppliers. Therefore, for the purposes of reporting on our payment statistics for those qualifying contracts, we have assumed that all payments under those contracts are due within 30 days of the date of receipt of the invoice, which reflects our most commonly used contractual payment terms. Discrepancy between contracting entity and paying entity Our payment statistics include some payments made by Lloyds Bank Plc where, although we are not the contracting entity for the relevant qualifying contract, the services have been received and paid for by Lloyds Bank Plc. Sufficient link to the UK Our payment statistics may include some payments made to non-UK entities where we have been unable to ascertain whether the contract has a sufficient link to the UK to meet the criteria for reporting. It is not Lloyds Bank Plc policy to differentiate supplier payment terms based on supplier jurisdiction and our payment practices for non-UK entities are representative of those followed for UK entities.
Maximum contractual payment period agreed
90
Dispute Resolution Process
Suppliers can raise queries with their appointed managers in the first instance. They can also contact the dedicated accounts payable team (LloydsInvoiceEnquiries@Lloydsbanking.com). Such contacts would generally seek to deal with any disputes promptly (involving other senior contacts, as needed), in accordance with the terms of the contract.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available