Lloyds Bank pledges £5m extra funding to support apprenticeships

Lloyds Bank’s extra funding will support approximately 3,500 manufacturing apprentices and engineers by 2024, equipping them with the right skills required to be at the forefront of manufacturing in the future. The funds will lead to a 350% increase on the original target for training apprentices, which was made in 2015, and support the AMTC’s commitment to address one of the biggest challenges that the manufacturing sector faces – the shortage of skills.

Set up in 2015, the Lloyds Bank Advanced Manufacturing Training Centre in Coventry is a state-of-the-art training centre, designed to help fund the creation of a new generation of engineers and technicians and help to narrow the UK manufacturing skills gap.

The purpose-built facility provides apprentices with a range of training and experience of real-life projects from apprenticeship programmes, through engineer up-skilling courses and graduate development programmes, including executive level training.

For employers eager to grow their business and ensure they offer a competitive advantage, the centre’s apprenticeship scheme provides business-ready technicians and engineers who have received specialist training with the skills to make an immediate difference in their organisation.

Lloyds Bank has been actively working with the Manufacturing Technology Centre (MTC) to promote the manufacturing sector and highlight the range of skills required within the industry and the different employment opportunities in the sector. In addition, the bank actively supports clients in their drive to diversify their workforce in order to address the skills gap.

The AMTC opened its doors to its third cohort of apprentices in September, giving new recruits the opportunity to train and learn alongside some of the world’s leading experts as well as access the very latest technology in manufacturing and engineering.

António Horta Osório, chief executive of Lloyds Banking Group said “Our extended sponsorship, from £5 million over five years, to £10 million over 10 years, will see industry benefit from 3,500 apprentices and engineers being trained and developing new skills. This will help address the single biggest challenge that manufacturers consistently tell us about – the shortage of skills.

Dr Clive Hickman, MTC chief executive, said: "The training centre is developing vital skills which are seeding industry in the region and far beyond, bringing on the next generation of manufacturing engineers and technicians. During their time at the AMTC they work on real projects gaining invaluable skills needed by UK manufacturing industry.

Successes to date include:

• Over the past 4 years, over 354 apprentices and engineers have benefitted from being trained and upskilled through the support of Lloyds Bank’s investment at the AMTC, many of whom have gone on to secure careers in areas such as aerospace and the automotive industries


• 250+ Lloyds Bank clients have to date been supported through the partnership with the MTC


• Over 70 clients have undertaken a bespoke programme in their factories. to improve efficiency, improve productivity or adopt new technology


• The number of female apprentices have grown from one in 2011 to 10 currently, equating to 19 per cent of the total students at the AMTC, outperforming the average in UK industry (4%)


• In 2011 there were no apprentices from a Black, Asian and minority ethnic background (BAME). Today there are 16, equating to 26% of the total apprentices at the AMTC, again outperforming industry averages (11% nationally)