Lloyds Bank Corporate Markets

Lloyds Bank Corporate Markets plc

Company type	Subsidiary undertaking
Industry	Investment Banking
Founded	28 September 2016;8 years ago (2016-09-28)
Headquarters	London , United Kingdom
Operating income	GB£984 million (2024) [1]
Net income	GB£501 million (2024) [1]
Parent	Lloyds Banking Group plc [2]

Lloyds Bank Corporate Markets plc ^[3] (LBCM ^[1] ) is the investment banking arm of Lloyds Banking Group. LBCM has two primary investment banking functions: Capital Markets - under which Debt Capital Markets, private side derivatives, and Securitised Products sit - and Financial Markets - the interest rates, currency, commodities, inflation and gilts, flow sales and trading business.

LBCM was incorporated on 28 September 2016. ^[3] It was created to comply with the Financial Services (Banking Reform) Act 2013. The Act implements the Independent Commission on Banking recommendation that essential banking services are separated from investment banking activities by 2019.

Operations

The non ring-fenced entity also incorporates the business undertaken by Lloyds Bank International and the Group's branches in the United States, Singapore and the Crown Dependencies.

The company was authorised with restrictions in 2017 and is currently registered as a Credit Institution with the Financial Conduct Authority and Prudential Regulatory Authority. Until the restrictions are removed, it is limited in its ability to undertake or have migrated to it any regulated financial services activities. In 2018, it was reported that traders will be physically separated from their colleagues and placed in a "glass box" to comply with rules. ^{[4] [5]}

Fitch Ratings has assigned Lloyds Bank Corporate Markets and Lloyds Bank International expected Long-Term Issuer Default Ratings of 'A(EXP)'. ^[6]

See also

• Banks portal

• Lloyds Associated Banking Company
• Lloyds Bank International
• Hill Samuel

References

1. "Annual report - 2024-lbcm-annual-report.pdf" (PDF). Lloyds Banking Group . Retrieved 30 March 2025.
2. "Lloyds Bank Corporate Markets plc persons with significant control - Find and update company information - Gov.uk". Companies House . 28 September 2016. Retrieved 30 March 2025.
3. "Lloyds Bank Corporate Markets plc overview - Find and update company information - Gov.uk". Companies House . 28 September 2016. Retrieved 30 March 2025.
4. Spezzati, Stefania and Sidders, Jack Lloyds Is Planning to Place Traders in a Glass Box to Comply With New Rules Bloomberg, 22 January 2018
5. Withers, Iain Lloyds 'walling off' traders at its City HQ The Daily Telegraph, 22 January 2018
6. Fitch Rates Lloyds Bank Corporate Markets plc and Lloyds Bank International Ltd 'A(EXP)' Reuters, 17 July 2017