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Lloyds Bank to cut £2bn in costs as part of AI-powered strategy

Chief executive says the four-year plan will lead to greater efficiency but gives no details of potential job losses

Lloyds Banking Group will cut another £2bn of costs as part of a four-year plan under which its chief executive will use new tech and AI to drive growth.

Charlie Nunn said the strategy, which the UK’s largest high street lender will launch in January, would involve investing £13bn into the business by 2030, including for “pioneering technology” to lure new business, improve efficiency and increase payouts for shareholders.

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Jul 30, 2026 Lloyds Banking Group Banking Business
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Lloyds Bank to cut £2bn in costs as part of AI-powered strategy Lloyds Banking Group Jul 30, 2026 Lloyds Bank to cut £2bn in costs as part of AI-powered strategy Chief executive says the four-year plan will lead to greater efficiency but gives no details of potential job lossesBusiness live – latest updatesLloyds Banking Group will cut another £2bn of costs as part of a four-y...
Lloyds Bank to cut £2bn in costs as part of AI-powered strategy

Chief executive says the four-year plan will lead to greater efficiency but gives no details of potential job lossesBusiness live – latest updatesLloyds Banking Group will cut another £2bn of costs as part of a four-y...

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