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Lloyds identifies 18mn customers as prime growth targets

UK’s largest high street bank deploys new team of ‘relationship managers’ to sell extra products and services

Lloyds Banking Group has labelled more than 18mn of its customers as prime growth targets and has trained up hundreds of staff to try to sell them extra products and services.

The UK’s largest high street bank has deployed a team of about 830 new and existing staff to target “relationship growth” with 18.7mn of its 27mn customer base, according to people familiar with the plans and an internal presentation seen by the FT.

Lloyds is two years into a strategic overhaul, of which one aim is to “deepen its relationship” with customers. Chief executive Charlie Nunn has set out a target of increasing the average number of products it sells its customers by 5 per cent by the end of 2024. When the strategy was launched, the figure was 2.4.

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