A Lloyds Banking Group spokesman said: “The referendum and a vote to leave the EU are likely to cause economic uncertainty and potential volatility in the short-term."
Lloyds Bank is the latest major lender to raise concerns about leaving the European Union – with the board saying a Brexit would cause economic uncertainty and volatility.
The heads of HSBC, Royal Bank of Scotland and Santander have already gone on record saying that that staying in the EU is best for the UK.
A Lloyds Banking Group spokesman said: “The referendum and a vote to leave the EU are likely to cause economic uncertainty and potential volatility in the short-term."
But he added: "With no certainty over how the UK’s position outside the EU would evolve, the longer-term economic impact is unclear.
"The board is mindful that the future of the UK's relationship with the EU is a matter for the UK electorate, and that for many the debate is about more than just economics."
Santander chief executive Nathan Bostock has already said “our assessment is that membership of a reformed EU is in the best interests of customers, whereas leaving the EU would create significant uncertainties which will have a negative effect on businesses and the economy” and the chief executives of HSBC and RBS Stuart Gulliver and Ross McEwan have also backed staying.
Raoul Ruparel, co-director of Open Europe, an independently funded think tank based in the UK and Brussels which conducts research about the UK’s relationship with the EU, explained why big banks are likely to favour staying.
He said: “Being part of the EU benefits the financial services sector by providing access to single market financial services.
“You can passport your services from London and the UK to other countries, giving you access to some 500 million people.
“It therefore principally benefits big companies that trade across the EU.”
