Financial Inclusion

Our Financial Inclusion strategy is a sustainable one; commercial opportunity and recognition that it is right to work toward ending financial exclusion, are our main drivers.

HBOS is already a market leader in social banking, and is the only bank to publish a target 15% - for new social banking accounts. We exceeded this target in 2007 with a 19.3% share of new accounts. We opened our highest ever number of net new accounts, 114,003 during the year.

We aim to continue punching above our weight in this important field, with a particular focus where appropriate on our heartlands in Scotland and Yorkshire.

We are the first bank to publish a comprehensive Financial Inclusion Report with detailed data on our activities. This is available by clicking here .

We have also published regional versions for our heartlands.

Click here for our Scotland Report.

Click here for our Yorkshire Report.

We have six central objectives:

1. To maintain a strong high street presence. In July 2006 we announced our plans to install 100 new free ATMs in deprived areas.
2. To maintain our position as a market leading provider of social bank accounts.
3. To encourage the provision of micro-finance for those on low incomes by offering funding and administrative support to expert organisations e.g. East Lancashire Moneyline.
4. To encourage asset ownership through savings schemes like the Saving Gateway; Halifax is the only financial institution to have piloted this project on behalf of the Treasury. Also, through our activity to help first time buyers, key workers and social tenants onto the home ownership ladder.
5. To actively support the provision of financial advice and education by working with specialists in the not for profit sector.
6. To extend our presence in local communities, offering employment opportunities and support for local projects through financial

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