() is a
Financial Services company, based in the
United Kingdom , which was created in
1995 following the merger of the TSB Group and the Lloyds Bank Group. The head office is in
London ,
England . The group contains companies that provide banking services for individuals and businesses, and also
Mortgage ,
Investment and
Life Assurance , operating both in the UK and elsewhere.
The Lloyds TSB Group is the fifth largest bank headquartered in the
United Kingdom by assets after
HSBC Holdings ,
Royal Bank Of Scotland ,
Barclays Bank , and
HBOS . However it has the largest share of the British domestic market. Lloyds TSB was formed by the merger of Lloyds Bank and the
Trustee Savings Bank in
1995 . The high street banking arms are , headquartered at
Gresham Street in the
City Of London and '''Lloyds TSB Scotland plc''', headquartered at
George Street in
Edinburgh .
Lloyds Bank was one of the oldest banks in the UK, formed in
1765 in
Birmingham . Through a series of mergers Lloyds emerged to become one of the
Big Four banks in the UK. It also acquired overseas businesses, particularly in
Brazil and
New Zealand . It also owned a life assurance company, . In
1994 it acquired the
Cheltenham And Gloucester Building Society, giving it a large stake in the UK
Mortgage lending market.
The Trustee Savings Bank (TSB) was formed by ;
TSB Scotland ;
TSB Northern Ireland ; and
TSB Channel Islands . The only bank not to join,
Airdrie Savings Bank , still exists today.
In 1985, the
Trustee Savings Bank Act 1985 was passed which merged the Scottish and
Channel Islands operations into TSB England and Wales under the
Tautological name TSB Bank plc. The new bank was floated on the
London Stock Exchange and TSB Northern Ireland was sold to
Allied Irish Banks where is was rebranded as
First Trust Bank .
In '' to the city of Birmingham, where it then had its headquarters.
In 1995, the two banks, TSB and Lloyds merged to form Lloyds TSB Bank Plc. However, as TSB was formed under an
Act Of Parliament , another act was required before a legal merger was allowed. The
Lloyds TSB Act 1999 was passed to allow this.
In September 2000, Lloyds TSB purchased Chartered Trust from the
Standard Chartered Bank for £627m to form
Lloyds TSB Asset Finance Division which provides motor, retail and personal finance in the
United Kingdom under the trading name
Black Horse
At the time of creation, Lloyds TSB was the largest bank in the UK and Europe. However it has lagged behind the growth of fellow UK banks, most notably the
Royal Bank Of Scotland . An acquisition of
Scottish Widows Life Assurance Society was judged to be poor value for money. Poor performance led the bank to dispose of many overseas assets, namely the Brazilian and New Zealand operations.
