HBOS plc is a wholly owned indirect subsidiary of Lloyds Banking Group plc and also a direct subsidiary of Lloyds Bank plc.
Image: company website
The HBOS group provide a wide range of banking and financial services through its offices and branches in United Kingdom and countries all over the world. The revenue of the group is maily earned through interest and fees on a wide range of financial products which includes saving and current accounts, loans, credit cards and mortgages in retail market, loans and capital products to commercial and business customers and private banking.
The most important risk associated with the group, which may create a huge impact over the group’s long-term strategic objectives are credit risk, regulatory risk, operational and people risk. HBOS group has been taking actions to mitigate these risks associated with the group’s success. In order to build a culture in which employees are empowered and inspired, the group assess progress of the employees and incentivize them for their commitment and contribution towards achieving the strategic goals of the group.
During the financial year 2015, the group has recorded a profit before tax of 2740 million Euro compared to 3550 mn Euro in the last financial year. Total income has decreased by 3 per cent compared to total income in 2014. Net interest income in 2015 was 6706 mn Euro, an increase of 172 mn Euro compared to 2014. The total assets of the groups were 41,777 mn Euro at the end of financial year 2015 which was 11 per cent lower compared to the total assets at the end of 2014.