Lloyds Banking Group Targets One Million Young People Supported Over a Decade

Lloyds Banking Group Targets One Million Young People Supported Over a Decade

(IN BRIEF) Lloyds Banking Group has announced a £100 million investment in future skills, including AI capabilities, as part of its new strategic phase, with plans to reskill 20,000 colleagues and support a further 600,000 young people across the UK by 2030 through skills, careers, employment and financial education programmes. The commitment builds on support already provided to more than 400,000 young people over the past five years, as well as 12,000 apprenticeships created over 12 years and 60,000 work experience opportunities delivered since 2022. The Group will expand routes into employment through apprenticeships, graduate programmes, work experience, placements, careers support, branch-based placements for 18- to 24-year-olds not in education, employment or training, and Youth Hubs delivered with the Department for Work and Pensions. The investment will also support 67,000 colleagues through programmes such as the AI Academy and Leading with AI, while reinforcing Lloyds Banking Group’s role as a founding signatory of the Financial Services Skills Compact.

(PRESS RELEASE) LONDON, 20-Aug-2026 — /EuropaWire/ — Lloyds Banking Group has announced a £100 million investment in future skills as part of its new strategic phase, with a focus on building capabilities including artificial intelligence skills.

The investment includes reskilling 20,000 colleagues and supporting future-ready capabilities across the workforce.

The Group also aims to support a further 600,000 young people across the United Kingdom by 2030 through skills, careers, employment and financial education programmes.

This ambition would bring Lloyds Banking Group’s total support for young people to one million over a decade.

The new commitment builds on support already provided to more than 400,000 young people over the past five years.

Lloyds Banking Group has also created 12,000 apprenticeships over the past 12 years and delivered 60,000 work experience opportunities since 2022.

Supporting the next generation

Lloyds Banking Group said its ambition reflects the growing importance of helping young people develop workplace skills, gain practical experience and access opportunities that can support long-term careers.

The Group will continue to provide routes into employment through apprenticeships, graduate programmes, work experience, placements, careers education and employability support.

It will also expand initiatives designed to help young people build confidence and prepare for the world of work.

Creating pathways into employment

As part of the commitment, Lloyds Banking Group will expand opportunities for young people to gain workplace experience and develop practical skills.

This includes branch-based work placements for people aged 18 to 24 who are not currently in education, employment or training.

The placements are designed to help participants build confidence, develop workplace skills and gain hands-on experience in a customer-facing environment.

The Group also plans to host Youth Hubs in its offices, working with the Department for Work and Pensions.

The Youth Hubs will provide work-readiness training, careers support, financial literacy and skills development to help young people prepare for employment.

Building skills for a changing economy

The announcement comes as employers, educators and policymakers place growing emphasis on strengthening skills, widening access to employment and helping more young people succeed in the workplace.

Alongside its support for young people, Lloyds Banking Group’s £100 million investment will support future skills development for colleagues.

Part of the investment will help 67,000 colleagues develop future-ready capabilities through programmes including the Group’s AI Academy and Leading with AI initiative.

The investment will also support expanded reskilling opportunities, helping colleagues build new capabilities and transition into future-focused roles as technology continues to reshape work.

Lloyds Banking Group is also a founding signatory of the Financial Services Skills Compact, a sector-wide initiative focused on developing future skills, strengthening routes into employment and building a workforce equipped for a changing economy.

Sharon Doherty, Chief People and Places Officer at Lloyds Banking Group, said there is no single route into a successful career.

She said that whether someone chooses further education, an apprenticeship or goes directly into work, access to opportunities, skills and experience can make a significant difference.

Doherty said businesses have an important role to play in helping people develop the skills and confidence they need to succeed.

Through apprenticeships, work experience, careers support and initiatives such as Youth Hubs, Lloyds Banking Group aims to create more pathways into work for young people across the UK.

She added that the £100 million investment will also help colleagues build the capabilities needed to support customers and succeed in a changing economy.

Pat McFadden, Work and Pensions Secretary, said every young person deserves the chance to succeed, which requires government and businesses to work together to provide the skills needed for future opportunities.

He said Lloyds Banking Group’s £100 million investment and additional commitment to support more than 600,000 young people is an example of business action alongside the government’s £2.5 billion investment in youth employment support.

McFadden said the goal is to help young people across the UK build confidence, skills and experience to progress in life and support growth across the country.

Through this investment, Lloyds Banking Group is expanding its role in future skills development, youth employability and workforce readiness as the UK economy continues to adapt to technological change.

Notes to Editors

About Lloyds Banking Group

With 28 million customers, we’re proud to be the UK’s biggest digital bank. Our services span retail and commercial banking, insurance and long-term savings, delivered through trusted brands including Lloyds, Halifax, Bank of Scotland and Scottish Widows.

Our purpose is Helping Britain Prosper. For more than 320 years, we’ve served households and businesses across the UK. Today, we’re transforming how we do that. We’ve invested more than £4bn in our digital transformation, and we’re just getting started. That means building smarter, more resilient tech, expanding our use of AI, and creating seamless experiences for a digital-first Britain.

Media Contact:

Charlotte Charlotte Varney
charlotte.varney@lloydsbanking.com

SOURCE: Lloyds Bank plc