Traditional banking safe from web threat

Lloyds TSB does not see the internet undermining its branch network proposition. The bank's chairman Brian Pitman, speaking at the Greig Middleton annual investment conference in London last week, said while the internet's star was rising, more traditional banking media were in no immediate danger of being overtaken. Pitman spoke on the subject of adding shareholder value with particular reference to his own experience at the UK's largest high street bank. On average, the bank has doubled shareholder value every 32 months for the past 15 years. Flexibility has been cited as the secret of ...