Lloyds TSB

Lloyds Bank began as Taylors & Lloyds in Birmingham, in 1765. For the first hundred years, the Bank operated from just one office in the town. But in the 1860s, Lloyds embarked on a period of rapid expansion and growth. By the time of the TSB merger in 1995, it had absorbed more than 200 banks.

Trustee Savings Banks (TSB) can trace their roots back to 1810 when the world’s first savings bank launched. The bank was based on business principles such as interest paid on deposits and the model soon spread across the UK.

Trustee Savings Banks were local institutions that were largely independent from one another, but in 1976 the remaining 73 TSBs merged into 16 regional institutions. This paved the way for TSB to be floated on the Stock Exchange in 1986 before being acquired by Lloyds Bank in 1995.

In 2000 Lloyds TSB acquired Scottish Widows before acquiring HBOS in 2009 to form Lloyds Banking Group.

On 9 September 2013 Lloyds TSB were forced by the European Commission (EC) to once again become two separate banks as a condition of the Lloyd’s bailout. Lloyds must sell its remaining shares in TSB by the end of 2015.