Lloyds Banking Group plc history, company profile (overview) and history video
Lloyds Banking Group plc is a British financial services group headquartered in London, England, United Kingdom.
HISTORY
Lloyds Banking Group was formed in 2009 when Lloyds TSB acquired HBOS. The company’s history derives from the constituent companies Lloyds TSB and HBOS.
Lloyds TSB
Lloyds TSB Group plc was established in 1995 when Trustee Savings Banks (TSB) merged with Lloyds Bank. TSB’s roots date back to 1810, and Lloyds Bank, one of the oldest banks in the UK, began as Taylors and Lloyds in 1765.
Scottish Widows, a mutual life-assurance company based in Edinburgh, was acquired and joined this group in 2000.
HBOS
HBOS plc was established in 2001 when Halifax merged with the Bank of Scotland. Halifax was founded in 1852, and the Bank of Scotland (Scotland’s first and oldest bank) was founded in 1695, by an Act of the Scottish Parliament.
OPERATIONS
The company operates through the following business segments: Retail, Commercial Banking, and Insurance & Wealth.
Retail
The Retail segment provides accounts, savings, credit cards, loans, mortgages, insurance, and motor finance.
Commercial Banking
The Commercial Banking segment provides core banking products, such as lending, deposits and transaction banking services, as well as expertise in capital markets (private placements, bonds and syndicated loans), financial markets (foreign exchange, interest rate management, money market and credit) and private equity for corporate clients.
Insurance & Wealth
The Insurance & Wealth segment involves life insurance, pensions, investments, mortgages and general insurance (home and car), as well as personal lending or advice in areas including investments, planning for retirement, protection and inheritance tax planning.
The group is known for its portfolio that features some of the UK’s best-known financial services brands, such as Lloyds Bank, Bank of Scotland, Halifax, Scottish Widows, Schroders Personal Wealth, MBNA, Lex Autolease, LDC, AMC, Black Horse, IWeb, and Birmingham Midshires.
With more than 81 000 employees, Lloyds Banking Group operates the UK’s largest retail bank and is considered one of the UK’s largest financial services organizations. According to Forbes, it is considered one of the Top 2 000 Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and ”www.lloydsbankinggroup.com”.
**Video published on youtube.com by “Companies History“.