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This case depicts the problems a major commercial bank faced to implement its long term corporate strategy. Lloyds Bank was the first UK financial institution to abandon the global bank model. This was strategic change as a response to managers'' long term mandate, fortuitous events end environmental changes (namely, the LDC debt crisis, deregulation, and bank desintermediation). Contrary to the strategies of competitors and expectations at the verge of the Single Market on Financial Services, the bank found the greatest opportunities for growth in its home markets. Lloyds Bank reached the top echelon of British banking but only after managers redefined the mandate to address the bank''s capabilities. Moreover, the implementation of Lloyds'' strategy lacked major investments in information technology. The end result is a process where there seems to be more strategic vision than actual performance.