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Mr Musundi Essay

3982 words - 16 pages




The report seeks to answer questions relating to Lloyd banking group, an internationally accredited bank that offers several services. Several issues are addressed in the report. The first issue being addressed is the merit and demerits of globalization in the global financial industry. Additionally, the threats and opportunities facing Lloyd Bank are looked at. The second issue being addressed focuses on the role of strategic alliances of mergers and acquisitions in the implementation of the e-banking system. Lastly, the role of corporate governance and corporate social responsibility is addressed. A personnel ...view middle of the document...

The industrial, commercial bank of China has also been able to cross borders and transact business in the United Kingdom transforming the traditional role that banks played.
Globalization also provides an opportune moment for major companies to merge and consolidate in order to provide certain specific services to its consumers across the world. Merging and the consolidation of banks as witnessed between various groups have increased the provision of financial services that could not be provided as single entities (Ulijn 2010). This has signaled a new era in the banking system.
Demerits of Globalisation
Competition from the local banks coupled with increased regulatory measures imposed on the global banks has seen most global banks failing to the deliver in the market. Most governments have come up with policies to ensure that their local banks perform better compared to the global banks through enacting of certain policies. Protectoral policies put by governments have reversed the major benefits that were supposed to be achieved. Numerous fines and procurement procedures have been placed on most of the global banks causing them to close their banks and going back to their countries of origin (Lynch. 2006).
Money laundering scandals and other controversies have continued to depict financial services in a bad picture. Lloyd banking group had some controversies especially surrounding money laundering practices and the evasion of tax. Similarly, Citi group has also issues relating to money laundering practices. Controversies paint global industries in a bad light and erode the customers trust in investing in certain situations. Most customers also believe or are of the notion that global financial industries are for the rich and thus fail to invest in some of the services that are provided. Part of the reason is due to the high-interest rates that are normally imposed by the institution. Customer trust and loyalty is difficult to attain after the financial crisis of the year 2008 with most companies and governments blaming the global financial industry. Most global companies in the financial field are trying to get back their customers by incentives (Greuning and Brajovic- Bratanovic 2000).
Laws are being enacted to control trading activities and, in essence, limiting the powers that the global financial providers have. Maximum rates are being imposed. Other laws impede the business activities related to the financial sector. A perfect example was the divestment of Lloyd banking by the European Union and the United Kingdom government. Buying of shares by the government in the company made it less attractive to the consumers ( Mialon 2013).

The launch of Islamic banking is likely to increase the asset base of the company. Following its introduction in the year 2008, the number of Muslims has continuously increased in the United Kingdom from the initial two million to double the number. Muslims advocate for the transfer of their money...

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