Lloyds TSB

The Lloyds Banking Group (up to January 18, 2009 Lloyds TSB Group plc ( Lloyds TSB Bank ) ) is a listed British banking giant, which emerged in September 2008 from a merger with the ailing in the wake of the Great Depression HBOS. Lloyds TSB in turn was created in 1995 through a merger of the TSB Group and the Lloyds Bank.

Lloyds offers services in banking for individuals and businesses, including mortgages, investments and life insurance. The Group's headquarters are located in London.

Credit

The rating agency Fitch lowered in October 2011, the review of the Lloyds Banking Group from AA-to A.

History

Lloyds

The Lloyds Bank is one of the oldest banks in the UK. It was founded in 1765 in Birmingham. The Trustee Savings Bank ( TSB) was founded in 1810 by Henry Duncan in Ruthwell, Dumfriesshire, Scotland.

1765 founded the Unitarian John Taylor and Sampson Lloyd the Quaker a private bank in Birmingham named Taylor & LLoyd. Two of her sons founded Barnett Hoare Hanbury and Lloyd, whose principal house was at London's Lombard Street. But this establishment was later acquired by Lloyds. 1862, the company expanded for the first time on the European framework.

1865 was the overarching Lloyds Banking Company Limited. By 1890, it took over 24 other banks. 1914 took over the Wilts and Dorset Lloyds Bank, 1918, the Capital and Counties Bank. Around 50 acquisitions followed until 1923, most notably Fox, Fowler and Co. of Wellington, Somerset. Lloyds Bank (France ) was founded in 1911, when they took over Armstrong and Co. in Paris and Le Havre. Six years later, she was listed as Lloyds and National and Provincial Bank.

1955 Lloyds Bank -bought back full ownership of the company and renamed it in Lloyds Bank (Foreign ) and later Lloyds Bank Europe to.

Already at the end of World War Lloyds acquired the London and River Plate Bank. This one had a foothold in South America. The takeover of the London and Brazilian Bank resulted in the Bank of London and South America ( BOLSA ), but only in 1971 acquired a majority stake in Lloyds BOLSA and bandaged it with Lloyds Bank Europe to it to form the Lloyds and Bolsa International Bank. In the meantime, she was called Lloyds Bank International ( LBI), then she went in 1986 to Lloyds Bank. The international expansion continued, so that now there are offices in more than 30 countries.

In December 1983, the takeover of the struggling German private bank Schröder, Münchmeyer, Hengst & Co.. Originated in 1988 as an insurance pillar Lloyds Abbey Life. 1995 Cheltenham & Gloucester came (C & G) to Lloyds Bank Group. In the same year, on 28 December 1995 it came to the merger with TSB Group - hence the name of Lloyds TSB Group. Behind " TSB " hides the Trustee Savings Bank. Barely a year later, the Lloyds Abbey Life came into full possession of the Lloyds TSB Group.

Trustee Savings Bank

The Trustee Savings Bank has taken a very different path. TSB was founded during the Napoleonic Continental System in 1810 by the Reverend Henry Duncan ( 1774-1846 ) of Ruthwell in Dumfriesshire, Southern Scotland and initially was to support the poor parishioners. 1818 existed in England alone, almost 300 of these banks, which are regarded as first non-profit savings banks in the world. The Trustee Savings Bank Association ( TSBA ), however, was only founded in 1887 to promote cooperation among the different savings banks. The Central Trustee Savings Bank was established in 1973 to provide the "savings banks " with a banking and especially a clearing service.

Two years later TSB member of the London Bankers Clearing House. In order to withstand the growing demands, the remaining 16 savings banks under the names TSB England and Wales, Scotland TSB, TSB Northern Ireland and TSB Channel Islands were summarized.

In 1986, the stock market listing, this came the establishment of real estate companies, the purchase of Hill Samuel Bank and Target Life. As the first bank TSB founded under the name Speed ​​Link a telephone banking system in the UK.

TSB England and Wales in 1989 to TSB Bank plc and the newly combined TSB Bank TSB Bank Scotland and Northern Ireland they were assigned as bank subsidiaries. 1991 bought the Allied Irish Banks, the TSB Bank Northern Ireland and 1992 was also TSB Bank Channel Islands subsidiary.

In 1995, the merger with Lloyds.

Lloyds TSB Group

Since the merger in 1995, the group plays an important role in the consolidation of the British banking industry. In 2000, she took over 7 billion pounds of the Scottish Widows, a life insurance group, which Lloyds TSB has become the second largest player in the sector. The acquisition of Abbey National, however, was prevented by the competition watchdogs of the Competition Commission. Overall, the group came in the following years compared to the other banks in the country behind, and fell from No. 1 back in 5th place. Thus they separated from Things to Do in Brazil and New Zealand, but at the same time opened up new groups of investors, for example by requiring the Islamic banking system compliant systems.

The group is also pioneering the use less prone security mechanisms in the banking trade internet.

2007 Abbey Life was sold for 1.44 billion euros to the German bank.

The Lloyds Banking Group

January 19, 2009 merged Lloyds TSB and Halifax Bank of Scotland ( HBOS ), which is the largest real estate lenders in Britain. Merger talks went back at least to the year 2001. The aim of the merger was to create a well supported in all business areas of banking. The purchase price amounted to 12.2 billion pounds and was financed through a share swap. HBOS shareholders received 0.83 Lloyds TSB shares for each own stock that was valued at 232 pence sterling. The former HBOS shareholders are thus holds 44 % of the new financial giants, which together more than a third of all UK mortgages and a quarter of UK savings are entrusted. The new bank has about 38 million customers. The transaction was only possible after competition concerns were thrown by both sides of the Bank of England as well as from government agencies overboard. British Finance Minister Alistair Darling defended the takeover by pointing out that financial stability constitutes the highest bid and have precedence over concerns about competition in the banking sector. Similar comment Secretary of State for Business and Enterprise John Hutton.

The in the new Lloyds Banking Group plc. combined companies (eg Lloyds TSB, Bank of Scotland, Halifax, Cheltenham & Gloucester, Scottish Widows, Clerical Medical, Heidelberger Leben and others) remained under their respective brand names or company names received and retained a relatively large self-employment.

In the wake of the financial crisis, the Bank received extensive capital injection by the British government. The state took over in the spring of 2009 a share of 43 % and made in return conditions for the separation of parts of the business. However, the bank was able, in contrast to the Royal Bank of Scotland, avoid a majority holding of Regiertung. The Bank also waived for the height of the crisis proposed comprehensive hedge balance sheet items with increased risk by the government, in terms of having this rescue package (ASP ) associated costs. Instead, the Bank carried out the largest capital increase of market history. The state it participated only to the extent of already acquired shares so that its participation is not increased further. Other measures to strengthen equity, the state share is between time to 41%.

On 1 March 2011 took over António Horta- Osório, the former UK chief of the Spanish banking giant Santander, the post of Chief Executive Officer, of Lloyds Banking Group. He was followed by Eric Daniels, who retired.

Among the requirements of the EU, which must meet in return for services received during the financial crisis, state aid teilverstaatlichte the Bank, includes the separation of branches. In June 2009, Lloyds had announced plans to close the branch network of Cheltenham & Gloucester ( C & G) with 164 branches in November 2009, but was it moved away again a little later. July 19, 2012 Lloyds announced the sale of 632 branches, including the well known C & G, with 4.8 million customers at the co-operative The Co -operative Group. The purchase price was estimated at 350 million pounds, added another performance-related payments in 2027 totaling up to 800 million pounds has been agreed. Subject to the approval of the relevant regulatory authorities, the transaction should be completed by November 2013. However, it was stopped because of import restrictions on sale, these stores were instead assigned to the newly formed subsidiary TSB Bank plc, its placement was announced on the stock exchange in 2014.