What We Do

For 30 years, Lloyds TSB Foundation for Scotland has contributed to improving the lives of individuals and communities experiencing disadvantage all across Scotland and in developing countries.

Our mission is to make a difference to the lives of individuals and communities in Scotland, by encouraging positive change, opportunities, fairness and growth of aspirations, which improve quality of life.

We have three strategic objectives to fulfil this:

  • To be the best grant maker we can be through continued progressive grant making.
  • To reach communities traditional grant making doesn’t through innovative asset-based community empowerment (our place-based programme).
  • To work with other grant makers so we can all be the best we can by maximising our expertise.


In 1810, the Trustee Savings Bank was established by The Reverend Henry Duncan, in Ruthwell, Dumfriesshire. He started the Bank so that everyone, regardless of wealth or position, could benefit from a savings bank.

In 1985, four independent charitable trusts (Scotland, England & Wales, Northern Ireland, Channel Islands) were created by the will of an Act of Parliament when the Trustee Savings Bank Group was floated on the Stock Market.

A covenant was implemented which stated that Lloyds Banking Group should distribute 1% of pre-tax profits, averaged over three years, to the foundations. Scotland receives 19.46% of this amount.

Lloyds Banking Group chose to serve notice on this agreement in early 2010, and that means we are now in a nine year notice perod until the covenant is terminated.

The covenant also states the Lloyds TSB Foundation for Scotland is a wholly independent organisation with a Chairman and Board of up to 12 Trustees, who are unpaid and are accountable for the work of the Foundation.

In 1997, the covenant continued following the merger between TSB Group and Lloyds Bank. This merger significantly increased the Foundation’s income and the Foundation became the largest Scottish independent grant-making Trust. Following the creation of the Lloyds Banking Group, after the acquisition of HBoS, the covenant still stood until the Group served notice on it in early 2010.

As the Foundation is an independent charitable organisation, Lloyds Banking Group has no say in how the Foundation disburses its funds.

Please download our Annual Report & Accounts 2015 here.