Lloyds Bank

Some of the key events about Lloyds Bank

• 1765

  Established as a private banking business in Birmingham, England
• 1865

  Adopted limited liability status, becoming Lloyds Banking Company Limited
• 1884

  Acquired the first of many smaller banking businesses, beginning a period of rapid expansion
• 1884

  Absorbed 20 private banks, contributing to the consolidation of the banking sector
• 1911

  Took over Hill & Sons, making it the largest bank in Britain by number of branches
• 1911

  Acquired significant stake in National Bank of New Zealand, expanding overseas influence
• 1918

  Merged with Capital and Counties Bank, significantly expanding its branch network
• 1918

  Merged with Capital and Counties Bank, further consolidating market power
• 1923

  Formed the National Bank of New Zealand, expanding its international presence
• 1971

  Introduced the first automated cash dispenser in the UK
• 1972

  Became a founding member of the Joint Credit Card Company, which launched the Access credit card
• 1995

  Acquired the Cheltenham & Gloucester Building Society, expanding into the mortgage market
• 1995

  Faced criticism for closing numerous rural branches, impacting local communities
• 2008

  Acquired struggling HBOS in a controversial deal during the financial crisis
• 2009

  Acquired HBOS plc, creating the largest retail bank in the UK
• 2009

  Received a £17 billion government bailout, becoming partially state-owned
• 2011

  Set aside £3.2 billion to compensate customers for mis-sold payment protection insurance (PPI)
• 2012

  Fined £4.3 million for delayed PPI compensation payments
• 2013

  Fined £28 million for serious failings in their control of sales incentive schemes
• 2015

  Fined £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.