Lloyds Bank
Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four" clearing banks. Lloyds Bank is the largest retail bank in Britain, and has an extensive network of branches and ATMs in England and Wales and offers 24-hour telephone and online banking services.
Some of the key events about Lloyds Bank
- 1765Established as a private banking business in Birmingham, England
- 1865Adopted limited liability status, becoming Lloyds Banking Company Limited
- 1884Acquired the first of many smaller banking businesses, beginning a period of rapid expansion
- 1884Absorbed 20 private banks, contributing to the consolidation of the banking sector
- 1911Took over Hill & Sons, making it the largest bank in Britain by number of branches
- 1911Acquired significant stake in National Bank of New Zealand, expanding overseas influence
- 1918Merged with Capital and Counties Bank, significantly expanding its branch network
- 1918Merged with Capital and Counties Bank, further consolidating market power
- 1923Formed the National Bank of New Zealand, expanding its international presence
- 1971Introduced the first automated cash dispenser in the UK
- 1972Became a founding member of the Joint Credit Card Company, which launched the Access credit card
- 1995Acquired the Cheltenham & Gloucester Building Society, expanding into the mortgage market
- 1995Faced criticism for closing numerous rural branches, impacting local communities
- 2008Acquired struggling HBOS in a controversial deal during the financial crisis
- 2009Acquired HBOS plc, creating the largest retail bank in the UK
- 2009Received a £17 billion government bailout, becoming partially state-owned
- 2011Set aside £3.2 billion to compensate customers for mis-sold payment protection insurance (PPI)
- 2012Fined £4.3 million for delayed PPI compensation payments
- 2013Fined £28 million for serious failings in their control of sales incentive schemes
- 2015Fined £117 million for mishandling customer complaints about PPI
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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