The bank has pledged to get more people onto the housing ladder by offering ‘the most comprehensive mortgage proposition in the UK mortgage market’.
It has also vowed to help customers save for later life through company pension schemes and by providing a continuing annuity income.
The lender will also contribute an additional £1m a year to support credit unions.
Other commitments under its ‘Helping Britain to Prosper Plan’ include increasing annual lending to small and medium sized businesses and creating new jobs by taking on apprentices.
António Horta-Osório, chief executive of Lloyds Banking Group, said: “The Helping Britain Prosper Plan incorporates bold, public commitments to help address some of the big issues facing Britain today. It demonstrates to customers that their concerns are our concerns. It’s about putting customers at the heart of everything we do as an organisation, wherever we do business.”
The plans were announced alongside the group’s annual report which said it expects to pay its chief executive £4.9m in 2014 and that Scottish independence would have ‘a material impact’ on the business’s costs.
The bank said it also plans to apply to restart dividend payments in the second half of 2014.
