英国劳埃德银行集团Lloyds Banking Group市场前景及投资研究报告-培训课件外文版2024.6

COMPANIES

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PRODUCTSLloydsBankingGroupCHAPTER

01OverviewLeadingbanksinEurope2022,bytotalassets(inbillionU.S.dollars)LargestEuropeanbanks2022,byassetsTotalassetsinbillionU.S.dollars05001,0001,5002,0002,5003,0003,500HSBCHoldingsBNPParibas2,864.592,849.61CréditAgricoleBancoSantanderBarclays2,542.611,853.861,823.84UBSGroup1,679.361,636.351,588.991,428.65GroupeBPCESociétéGénéraleDeutscheBankCréditMutuelLloydsBankingGroupIntesaSanpaoloINGGroup1,180.221,057.691,042.731,034.32UniCreditNatWestGroup916.72867.593Description:Totalassetsisoneofthemainmeasuresofabank'sprosperity.Itisdefinedasallassetsownedbyabank.Thisincludes,butisnotlimitedto:cashandbalances,loansandadvancestobanksandcustomers,aswellasdebtsecurities.Asof2022,HSBCHoldingswastheleadingEuropeanbankintermsoftotalassets,withmorethan2.86trillioneuros.In2022,HSBCwasalsoamongthelargestbanksgloballyintermsofmarketcapitalization.ReadmoreNote(s):Europe;2022Source(s):S&PGlobalLeadingbanksinEuropeasofDecember31,2023,bymarketcapitalization(inbillionU.S.dollars)LeadingEuropeanbanks2023,bymarketcapitalizationMarketcapitalizationinbillionU.S.dollars020406080100120140160180HSBCHoldings(UK)UBS(Switzerland)156.1799.9BNPParibas(France)80.04BancoSantander(Spain)Sberbank(Russia)66.9465.01BancoBilbaoVizcayaArgentaria(Spain)IntesaSanpaolo(Italy)53.6553.35INGGroup(Netherlands)UniCredit(Italy)NordeaBank(Finland)CréditAgricole(France)LloydsBankingGroup(UK)CaixaBank(Spain)50.7546.0943.6743.1938.630.3729.8128.82Barclays(UK)SkandinaviskaEnskildaBanken(Sweden)4Description:AsofDecember31,2023,therewasonlyoneEuropeanbankwithamarketcapitalizationofover100billionU.S.dollars.TheUK-basedHSBChadamarketcapitalizationofroughly156.17billionU.S.dollars,byfarthehighestvalueinEurope.UBSrankedsecond,withamarketcapof99.9billionU.S.dollars.Despitesomefluctuationsduringthelastdecade,HSBChascontinuouslymaintainedtheꢀhighestmarketcapamongthelargestEuropeanbanks.ReadmoreNote(s):Europe;December31,2023Source(s):CompaniesMarketCMonthlymarketcapitalizationofEurope'slargestbankssincethecoronavirusfromDecember2019toMarch2024(inbillionU.S.dollars)MarketcapitalvalueofEurope'slargestbankssincethecoronavirus2019-2024HSBCHoldings(UK)BNPParibas(France)UBS(Switzerland)BancoSantander(Spain)INGGroup(Netherlands)LloydsBankingGroup(UK)1801601401201008060402005Description:Thecoronavirus(COVID-19)outbreakhitthefinancialmarketshardin2020.SomeofEurope'slargestbanks,suchasHSBCandBancoSantander,sawmarketcapitalizationvaluesalmosthalvedbetweenDecember31andOctober31,2020.ThemarketcapofEurope'slargestbanksincreasedafterOctober2020,buttheeconomicuncertaintiesof2022startedanotherdowntrend.InMarch2023,followingthecollapseofSiliconValleyBankandSignatureBank,themarketcapofall[...]

ReadmoreNote(s):Europe;December31,2019toMarch31,2024Source(s):Finbox;MostvaluablebankingbrandsinEuropeasofFebruary2024(inbillionU.S.dollars)LeadingEuropeanbanks2024,bybrandvalueBrandvalueinbillionU.S.dollars1005152025HSBC(UK)Santander(Spain)Barclays(UK)20.0518.9113.29BNPParibas(France)UBS(Switzerland)ING(Netherlands)StandardChartered(UK)IntesaSanpaolo(Italy)Natwest(UK)12.2712.2210.028.047.997.3BBVA(Spain)7.21LloydsBank(UK)6.746.556.536.166.13Rabobank(Netherlands)CréditAgricole(France)CréditMutuel(France)KBC(Belgium)6Description:TheUK-basedHSBCtoppedthelistofthemostvaluablebankingbrandsin2024.HSBChadabrandvalueofover20billionU.SdollarsasofFebruary2024.SpanishSantanderrankedsecond,withabrandvalueof18.91billionU.S.dollars.AnotherUKbank,Barclaystookthirdplace,withabrandvalueof13.29billionU.S.dollars.Abrand'svaluecanhaveadirectcorrelationbetweenabrand'sstrengthanditsstandinginstockmarketperformance.HSBCnotonlytoppedtheEuropeanbankslist[...]

ReadmoreNote(s):Europe;February2024Source(s):BrandFinanceLargestbanksintheUnitedKingdom(UK)in2023,bytotalassets(inbillionBritishpoundsandU.S.dollars)LargestbanksintheUK2023,bytotalassetsTotalassetsAssetsinbillionU.S.dollars

AssetsinbillionBritishpounds1,000

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2,00005002,5003,0003,500HSBCHoldingBarclaysLloydsBankingGroupNatWestGroupStandardCharteredSantanderUKNationwideBuildingSociety*VirginMoneyUK*TheCo-operativeBankMetroBank7Description:HSBCwasthelargestbankintheUnitedKingdomasofJune30,2023,boastingtotalassetsvaluedatapproximately3.04trillionU.S.dollars.Asof2022,HSBCwasalsothelargestbankinEurope,anditstoodasoneoftheglobalbankingindustry'sleadinginstitutions.FollowingHSBC,Barclaysheldthesecond-highestamountofassetsintheUK,trailedbyLloyds.ReadmoreNote(s):UnitedKingdom;June2023Source(s):Varioussources(annualandinterimreports)CHAPTER

02KeyfinancialfiguresGlobalvalueoftotalassetsofLloydsBankingGroupfrom2010to2023(inbillionGBP)TotalassetsofLloydsBankingGroup2010-20231,200991.41970.611,0008006004002000933.06886.6881.5871.27873.4854.9842.38833.89817.79812.11806.69797.6201020112012201320142015201620172018201920202021202220239Description:ThevalueoftotalassetsoftheLloydsBankingGroupincreasedin2023,comparedto2022.In2023,totalassetsamountedtoavalueofapproximately881.5billionBritishpounds,upfrom873.4billionBritishpoundsayearearlier.

ReadmoreNote(s):UnitedKingdom;2010to2023Source(s):LloydsBankingGroupMarketcapitalizationofLloydsBankingGroupfrom2012to2023(inbillionU.S.dollars)MarketcapitalizationofLloydsBankingGroup2012-20236056.0554.32555045403530252051.9948.4648.4643.6736.4334.16201233.69202130.34202230.17202327.342020201320142015201620172018201910Description:ThemarketcapitalizationofLloydsBankingGrouppeakedattheendof2013,whenitreachedaround56billionU.S.dollars.Thevaluedroppedoverallsince,withaparticularlyprominentdropinDecember2020,whenitwasdownto27.3billionU.S.dollars.AsofDecember2023,themarketcapoftheBritishbankstoodat30.17billionU.S.dollars.ReadmoreNote(s):UnitedKingdom;2012to2023;EndofyearvaluesSource(s):FinboxGlobalincomeofLloydsBankingGroupfrom2010to2023(inmillionGBP)GlobalincomeofLloydsBankingGroup2010-202330,00024,86825,00020,00015,00010,0005,000020,80220,51718,65918,62618,62918,47818,35917,42117,26716,39916,32415,54115,1262010201120122013201420152016201720182019202020212022202311Description:TheglobalincomeoftheLloydsBankingGroupincreasedin2023.Afterayearofpoorfinancialperformancein2020,thegroupsawitsglobalincomeincreaseto16.3billionBritishpoundsin2021anditdecreasedagainto15.54billionBritishpoundsin2022.In2023,theglobalincomewas18.62billionBritishpounds,reachingthebank'spre-COVIDincomevalues.ThevalueoftotalglobalincomereferstothetotalincomeofLloydsBankingGroup,netofinsuranceclaims.

ReadmoreNote(s):UnitedKingdom;2010to2023Source(s):LloydsBankingGroupGlobalunderlyingprofitbeforetaxofLloydsBankingGroupfrom2014to2023(inbillionGBP)GlobalunderlyingprofitofLloydsBankingGroup2014-202398765432102014*2015*2016*2017*20182019202020212022202312Description:TheunderlyingprofitbeforetaxofLloydsBankingGroupskyrocketedin2021,afterayearofpoorperformanceduetotheeconomicconditionscausedbyCOVID-19.In2023,theunderlyingprofitwas7.81billionBritishpounds,whichwasalsothehighestreportedprofitduringtheperiodunderobservation.ReadmoreNote(s):UnitedKingdom;2014to2023Source(s):LloydsBankingGroupTier1capitalratioofLloydsBankingGroupfrom2010to2023Tier1capitalratioofLloydsBankingGroup2010-202319.7%20%15%10%5%19.1%18.2%17.2%17.1%17.2%17%16.7%16.5%16.4%14.5%13.8%12.5%11.6%0%2010201120122013201420152016201720182019202020212022202313Description:Thetier1capitalratiooftheLloydsBankingGroupgenerallyincreasedbetween2010and2023.Theratioincreasedoveralluntil2018,reachingavalueof18.2percentbeforedecreasingto16.7percentin2019.TheTier1capitalratioroseagainin2020and2021,reaching19.7percent.Intheyear2022,theratiowentdownto17.1percent;however,itexperiencedaslightincreaseintheyear2023,reaching17.2percent.Tier1commoncapitalratioisameasurementofabank'scoreequity[...]

ReadmoreNote(s):UnitedKingdom;2010to2023Source(s):LloydsBankingGroupBasicearningsorlossperordinaryshareofLloydsBankingGroupfrom2010to2023(inBritishpence)BasicearningsperordinaryshareofLloydsBankingGroup2010-20231087.67.55.564.94.43.542.91.7201.20.8-0.5-1.2-2.1-2-4-6-4.32010201120122013201420152016201720182019202020212022202314Description:ThebasicearningsorlossperordinaryshareoftheLloydsBankingGroupfluctuatedsignificantlybetween2010and2023.In2014,LloydsBankingGroupreportedanearningperordinaryshareof1.7Britishpence,makingitthefirstyearinthisperiodthatalosswasnotreported.Thisfigureincreasedto7.5Britishpencein2021.Inthefollowingperiod,earningsgenerallyincreaseduntil2020,whenearningspersharedroppedto1.2pence.After2020,earningspershareincreasedsharply[...]

ReadmoreNote(s):UnitedKingdom;2010to2023Source(s):LloydsBankingGroupCHAPTER

03SegmentsGlobalnetincomeofLloydsBankingGroupfrom2018to2023,bydivision(inmillionGBP)GlobalincomeofUKLloydsBankingGroup2018-2023,bydivisionRetailCommercialbankingInsuranceandwealthEquityinvestmentsandcentralitems20,00018,00016,00014,00012,00010,0008,0006,0004,0002,000020182019202020212022202316Description:In2023,theretaildivisionofLloydsBankingGroupgeneratedaglobalnetincomevaluecloseofmorethan10.8billionBritishpounds,makingitthesegmentwiththehighestincome.CommercialbankinggeneratedthesecondhighestnetincomeoftheBritishbankinggroup,withroughly5.48billionU.S.dollars.ReadmoreNote(s):UnitedKingdom;2018to2023Source(s):LloydsBankingGroupLloydsBankingGroupcustomerdepositsgloballyfrom2018to2023,bydivision(inbillionGBP)GlobalcustomerdepositsofLloydsBankingGroup2018-2023RetailCommercialbankingInsuranceandwealthEquityinvestmentsandcentralitems600500400300200100020182019202020212022202317Description:In2023,thevalueofglobalconsumerdepositsatLloydsBankingGroupdecreasedascomparedto2022.Thevalueofcustomerdepositsintheretail(includingconsumerfinance)divisionofLloydsBankingGroupstoodat308.4billionBritishpoundsin2023,asmalldecreasecomparedtothepreviousyear.Moreover,thecommercialbankingdivisionalsosawaslightdecrease,with162.8billionBritishpounds.

ReadmoreNote(s):UnitedKingdom;2018to2023Source(s):LloydsBankingGroupUnderlyingprofit/lossofLloydsBankingGroupfrom2018to2023,bysegment(inmillionGBP)Profit/lossofLloydsBankingGroup2018-2023,bysegmentRetailCommercialbankingInsuranceandwealthEquityinvestmentsandcentralitems4,4976,0005,0004,0003,0002,0001,00005,1384,2114,2134,0433,2192,1831,9911,8511,8611,7541,06692774569962449842739133835719096-232-1,00020182019202020212022202318Description:LloydsBankingGroupmadeunderlyingprofitsacrossallsegmentsin2023.Lloydslargestsegmentintermsofprofitgenerationwasretailbanking,wheretheprofitswereoverfourbillionBritishpoundsin2023,downfromapproximately4.5billionBritishpoundsinthepreviousyear.Thiswasalsothesegmentwiththelargestdecreaseinprofits,comparedto2022.ReadmoreNote(s):UnitedKingdom;2018to2023Source(s):LloydsBankingGroupCHAPTER

04CompetitorsLargestbanksintheUnitedKingdom(UK)from2001to2023,bymarketcapitalization(inbillionU.S.dollars)LargestbanksintheUK2001-2023,bymarketcapitalizationHSBCHoldingsLloydsBankingGroupNatWestGroupBarclaysStandardChartered3002502001501005002001

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202320Description:HSBCwasthelargestbankintheUnitedKingdombymarketcapitalizationduringthewholeperiodbetween2001and2023.AsofDecember31,2023,HSBChadamarketcapitalizationofapproximately156.17billionU.S.dollars,whichwasanotableincreasecomparedtothepreviousyears.WhilethemarketcapitalizationofHSBCdidnotreachitspre-COVIDvalues,itwasstillꢀhigherthanthatofanyotherEuropeanbankꢀduringthatperiod.ReadmoreNote(s):UnitedKingdom;2001to2023;asofDecember31,eachyearSource(s):CompaniesMarketCRevenueofthelargestbanksintheUnitedKingdom(UK)from2010to2023(inbillionBritishpounds)RevenueofthelargestbanksintheUK2010-2023HSBCHoldingsBarclaysLloydsBankingGroupNatWestGroupStandardChartered2010201120122013201420152016201720182019202020212022202321Description:Since2014,HSBCHoldingshadthelargestannualrevenueamongthefivelargestbanksintheUnitedKingdom.In2023,HSBC'srevenueamountedtoroughly51.92billionBritishpounds.BarclaysPLCfollowed,withrevenueof25.38billionBritishpoundsin2023.ReadmoreNote(s):UnitedKingdom;2010to2023Source(s):Varioussources(annualreports)NumberofcustomersworldwideatthelargestbanksintheUnitedKingdom(UK)in2023(inmillions)LeadingbanksintheUKbynumberofcustomers2023Numberofcustomersinmillions60

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10002040120140160180SantanderBarclays164.5448HSBC42LloydsBankGroupNatWest261916.3Nationwide*StandardCharteredVirginMoneyMetroBank106.62.722Description:TheUK-basedbankwiththehighestnumberofcustomersin2023wasSantander,withover164millioncustomersworldwide.Barclaysfollowed,withaglobalcustomerbaseof48million.Despitetheirhighcustomernumbers,boththesebanksrankrelativelylowwhenitcomestocurrentaccountholdercustomersatisfaction.ThetopthreebanksintermsofsatisfiedcustomersasofAugust2023weretheonlinebanksStarlingBank,FirstDirect,andMonzoBank.ReadmoreNote(s):Worldwide,UnitedKingdom;2023Source(s):Varioussources(annualreports,websites)NumberofbranchesatselectedleadingbanksintheUnitedKingdom(UK)from2017to2023NumberofbranchesatselectedlargebanksintheUK2017-202320172018202120222023*2,5002,0001,5001,0005000LloydsBankingGroupNatWestGroupBarclaysSantanderHSBCNationwideBuildingSocietyTSBBankTheCo-operativeBank23Description:Withtheriseofonlinebankingandthespeedandconveniencethatitbrings,thepresenceofphysicalbankbrancheshasbecomelessimportantinrecentyears.Themostprominentchangeinbankbranchesduringtheperiodfrom2017to2023canbeseenwiththeUK'sbigfour(Barclays,Lloyds,HSBC,andNatWest).Duringthisperiod,Barclaysclosedalmost1,000branchesacrossthecountry,buttheotherthreedominantbanksalsosawtheirbranchesdecreasesharply.

ReadmoreNote(s):UnitedKingdom;2017to2023Source(s):RetailBankerInternational;Which?NetcurrentaccountcustomersgainedorlostbyleadingbanksintheUnitedKingdom(UK)via"currentaccountswitchservice"(CASS)in3rdquarter2023CurrentaccountswitchesofbanksintheUKQ32023,bynetgain/lossNetgain/loss-10,000NatWest010,00020,00030,00040,00050,00060,00070,00059,158HSBCTSB25,03715,754RBS6,382UlsterBank1,885TriodosBankJ.P.MorganCHASEDanskeBankofIrelandAIBGroup(UK)p.l.c.BankofScotlandStarlingBankLtdCo-operative94-140-340