Lloyds TSB
Lloyds bank was founded in 1765 in Birmingham and became the Trustee Saving Bank in 1810. The company in 2005 employed 66,800 people and its Headquarters are now in London, England.
Lloyds TSB is the fifth largest banking group in England and Wales and in Scotland becomes the Lloyds TSC Scotland.
Other subsidiaries in the group include the Cheltenham and Gloucester, Scottish Widows and Blackhorse.
Lloyds bank has one of the longest running adverts and is still used by Lloyds TSB. The advert uses the music ‘Eliza Aria’ and a black Trakehner horse.
Lloyds TSB was created in 1995 when the Lloyds Bank and the Trustee Savings Bank merged becoming then the second largest bank in the UK. Through several mergers Lloyds became on the Big Four Banks in the UK.
TSSB was created in 1985 by an Act of Parliament merging the remaining savings banks in Great Britain under TSB Bank plc. However the TSB can be traced back to the first savings bank founded in Ruthwell, Dumfriesshire in 1810.
The forming of Lloyds TSB was to start the large-scale consolidation in the UK banking market.
The group bought the mutual life assurance company, Scottish Widows in 2000 for the sum of seven billion pounds.
Later the group was to acquire Goldfish a financial services group but the brand was sold on to Morgan Stanley.
Lloyds TSB at the beginning was the largest bank in the UK and Europe but it has fallen behind others especially the Royal Bank of Scotland. It was considered that the buying of Scottish Windows Life Assurance Society was not good value and this together with poor performances caused the bank to dispose of foreign assets like the Brazilian and New Zealand operations.
Today Lloyds TSB deals with personal banking, retail banking, mortgages, insurance and investments and wholesale and international banking.
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