--Lloyds Banking Group PLC is planning to increase its focus in the wealth management and insurance market in its next strategy update, the Financial Times reports.

--The U.K. bank aims to diversify its sources of income as it faces a long period of record-low interest rates, according to the FT.

--The coronavirus pandemic has made it more necessary to boost the less interest-rate dependent parts of its business, said people briefed on the UK lender's strategic thinking, the FT reports.

Full story: https://on.ft.com/2VtdnfK

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(END) Dow Jones Newswires

June 29, 2020 07:04 ET (11:04 GMT)

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