In October 2003, Lloyds TSB Group agreed on the sale of its subsidiary NBNZ Holdings Limited-comprising the Group's New Zealand banking and insurance operations-to Australia and New Zealand Banking Group. Lloyds TSB continued to take part in the consolidation, making a takeover bid for Abbey National in 2001, which was later rejected by the Competition Commission. In September the same year, Lloyds TSB purchased Chartered Trust from Standard Chartered Bank for £627 million to form Lloyds TSB Asset Finance Division, which provides motor, retail and personal finance in the United Kingdom under the trading name Black Horse. This made the group the second-largest UK provider of life assurance and pensions after Prudential. In 2000, the group acquired Scottish Widows, a mutual life-assurance company based in Edinburgh, in a deal worth £7 billion. In 1995, Lloyds Bank plc merged with TSB Group plc, forming Lloyds TSB Group plc. Lloyds/TSB merger Park Row Leeds branch of Lloyds Bank, with a sculpture of the black horse (called Cancara) in the foreground TSB itself was created in 1985 by an Act of Parliament that merged all the remaining savings banks in England & Wales as TSB Bank plc and in Scotland (except Airdrie Savings Bank) as TSB Scotland plc. Trustee Savings Bank (TSB) can trace its roots back to the first savings bank founded by Henry Duncan in Ruthwell, Dumfriesshire, in 1810. In 2001, a wave of consolidations in the UK banking market led the former Halifax Building Society-which originated in 1853-to agree to a £10.8 billion merger with Bank of Scotland. īank of Scotland, which originated in the 17th century, is the second-oldest surviving UK bank after the Bank of England.
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Through a series of mergers, Lloyds became one of the Big Four banks in the UK. Lloyds Bank is one of the oldest banks in the UK, tracing its establishment to Taylors and Lloyds founded in 1765 in Birmingham by button maker John Taylor and iron producer and dealer Sampson Lloyd II.
It had a market capitalisation of approximately £30.65 billion as of 1 August 2022 - the 19th-largest of any LSE listed company - and has a secondary listing on the New York Stock Exchange in the form of American depositary receipts.įurther information: Lloyds Bank and HBOS Lloyds Banking Group is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 100 Index. Former Chief Executive António Horta-Osório told The Banker, "We will keep the different brands because the customers are very different in terms of attitude". The business operates under a number of distinct brands, including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Its headquarters for business in the European Union is in Berlin, Germany. The Group also has extensive overseas operations in the US, Europe, the Middle East and Asia. It also operates office sites in Birmingham, Bristol, West Yorkshire and Glasgow. The Group's headquarters are located at 25 Gresham Street in the City of London, while its registered office is on The Mound in Edinburgh. Lloyds Bank was founded in 1765 but the wider Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009.
Lloyds Banking Group uses the phrase "the group was formed in January 2009"
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