Lloyds Banking (LYG) is preparing to expand its US infrastructure financing business, including lending tied to the fast-growing data center sector, the Financial Times reported Tuesday, citing people familiar with the matter.

The UK lender is aiming to build a US infrastructure bank focused on large construction projects and sectors such as green energy, while supporting UK corporate clients with US operations, the report said.

Lloyds Banking plans to pursue a conservative US expansion through syndicated infrastructure loans as part of a broader push to grow its corporate and institutional banking business, the Financial Times added.

Lloyds Banking did not immediately reply to MT Newswires' request for comment.

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