Grace's Guide

British Industrial History

Grace's Guide is the leading source of historical information on industry and manufacturing in Britain. This web publication contains 133,092 pages of information and 210,772 images on early companies, their products and the people who designed and built them.

Lloyds Bank

From Graces Guide

Jump to: navigation, search
1895.
1899.
March 1936.
November 1946.
December 1948.
1949.
1951.
November 1951.
June 1953.
1953.
December 1954.
1957.

Head office: Birmingham

and of 72 Lombard Street, London, EC.

1765 Sampson Lloyd (1699-1779) saw the need and opportunities for private banks in London and the provinces. He joined with John Taylor (c.1711–1775) to found the first real bank in Birmingham, Taylors and Lloyds; his eldest son, also Sampson, was another partner.

Taylors and Lloyds played a prominent role in financing trade and industry in Birmingham. The bank was particularly active in the manufacturing and engineering sectors.

1852 The Taylors withdrew from the bank and the name of the bank was changed to Lloyds and Co

1859 George Braithwaite Lloyd senior died; his son George Braithwaite Lloyd took on the role of a director

1865 The Lloyd family bank was converted into a joint-stock company, Lloyds Banking Company Limited.

1866 Merged with Stevenson, Salt and Co (founded 1737)

1880s Lloyds, already a powerful force in the Midlands, turned its attention to London.

1884 The London bank Barnetts, Hoares, Hanburys, and Lloyd, also connected with the Lloyd family, was merged with the Lloyds bank of Birmingham. This also brought the connection with the "black horse" symbol. Also merged with Bosanquet, Salt and Co (founded 1787), forming Lloyds, Barnetts and Bosanquets Bank Ltd.

1889 Lloyds, Barnetts and Bosanquets Bank of Birmingham merged with the Birmingham Joint Stock Bank, and the Worcester City and County Banking Co Ltd; the name of the bank was shortened to Lloyds Bank Ltd; Howard Lloyd was the general manager of the new bank[1]

1892 Acquired Twinings Bank, an offshoot of the Twinings Tea Co.

1900 Acquired Cunliffes, Brooks and Co

By the start of WWI Lloyds had taken over more than 200 other banks.

1918 Acquired Capital and Counties Bank. This latter was itself the result of the amalgamation of two banks, the Hampshire Banking Company and the North Wilts Banking Company.

1918 The National Bank of Scotland and Lloyds Bank Ltd reached an agreement by which Lloyds acquired the entire capital of National Bank of Scotland but the 2 banks continued to trade separately.

1921 Acquired the Somerset bank of Fox, Fowler and Co, the the last provincial bank in England and Wales to issue its own banknotes.

1923 Acquired the army agency Cox's and King's

1959 Lloyds Bank approached the Commercial Bank of Scotland, which was seeking amalgamation with a larger partner, offering to surrender its ownership of National Bank of Scotland for a stake in a new, merged bank. The proposal was readily accepted and resulted in the formation of National Commercial Bank of Scotland later that year.

1995 Acquired the Cheltenham and Gloucester Building Society, the first association between a bank and a building society.

1995 Lloyds merged with TSB to create what was, at that time, the largest force in UK domestic banking.

2009 Following unprecedented turbulence in the global financial markets, HBOS plc was acquired by Lloyds TSB. The new company, Lloyds Banking Group plc, immediately became the largest retail bank in the UK.

2009 A ruling by the European Commission required the Group to divest part of its business. More than 630 branches across Britain were brought together to form the new TSB.

2013 Lloyds and TSB once again became separate banks.

See Also

Loading...

Sources of Information

  1. The Times, Mar 01, 1889
  • Biography of Sampson Lloyd, ODNB
  • [1] Lloyds history