Lloyds Banking Group has announced BBC Children in Need as its charity of the year for 2015 and 2016.

The charity expects to benefit from at least £2m a year from staff fundraising at the group’s offices and branches in the UK.

Carrie Green, head of corporate partnerships at BBC Children in Need, said of the partnership: “We are really excited that Lloyds Banking Group has appointed us as its charity of the year for the next two years, and are already seeing colleagues embracing the opportunity to fundraise and volunteer their time.

"Every penny raised by the group’s fundraising will go directly to projects helping to change the lives of disadvantaged children and young people, right here in the UK.”

This follows last year’s announcement that Lloyds Banking Group will become BBC Children in Need’s exclusive fundraising partner in schools.

The bank has launched its fundraising efforts with its Bear Necessities campaign, piggybacking on the new year’s resolutions of its staff and inviting them to give up a ‘bare necessity’ for the day, such as chocolate, alcohol or coffee, and donate the money saved to BBC Children in Need. Other regular fundraising activities, such as bake sales, dress down days and sponsored challenges, will continue throughout the partnership.

Graham Lindsay, director of responsible business and community affairs at Lloyds Banking Group, said: "I have no doubt that colleagues across the whole of Lloyds Banking Group will continue to play a key part in our commitment to helping Britain prosper, by giving up their time to help raise millions in much-needed funds to help children and young people across the UK to reach their potential."

The group’s last two-year partnership, which came to an end in December 2014, was with Alzheimer’s Society and Alzheimer Scotland. It initially aimed to raise £2m but ended up raising over £6m, with money going to workshops and its first-ever National Dementia Carers programme.

Jeremy Hughes, chief executive of Alzheimer's Society, said of the partnership: “I would personally like to thank Lloyds Banking Group for their fantastic support throughout the partnership. Lloyds colleagues have worked incredibly hard over the past two years to raise a record-breaking £6.3m.

“This is a phenomenal achievement.”

Lloyd’s Banking Groups hopes to deliver one million volunteer hours by 2015 as part of its Helping Britain Prosper Plan, and has committed to raising £12m through colleague fundraising.