Lloyds Banking Group has said that it has set a target to have at least 40 per cent women in its top 5,000 jobs during the coming six years.

The move is aimed at meeting the growing demand to address the gender diversity issue in the British business. The bank said that it will be the first company in the FTSE-100 company to establish a formal gender target for its senior most management position.

Antonio Horta-Osorio, Lloyds' chief executive is expected to make an announcement in his speech next week. The move comes at a time when the government is aiming to address the issue of diversity and governance in companies in the UK. Mr Horta-Osorio will outline the target as part of the company's plans to meet its obligations as the UK's biggest high street lender.

Experts have said that the bank is also planning to set targets for lending to small and medium-sized businesses (SMEs) and to first-time house-buyers. He will outline targets for the number of female executives and a commitment to the level of funding for Lloyds' charitable causes for the next six years.