Lloyds Bank
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.
Lloyds Bank Latest news
Wealthy donor backs away from Telegraph newspaper purchase deal
Telegraph's ownership puzzle: Middle East deal creates year-long media mystery
Santander sets aside millions as car loan scandal hits bank profits
Paper avalanche: How one bank's unusual tactic affects thousands of car owners
UK banks might lose billions: Double trouble from old and new scandals
Wealthy donor backs away from Telegraph newspaper purchase deal
Major shake-up in Telegraph newspapers sale process as high-profile investor steps back. The move adds new complexity to the long-running ownership transition of the well-known British media outlet
Telegraph's ownership puzzle: Middle East deal creates year-long media mystery
British newspaper Telegraph stuck in complex ownership situation after UAE-backed deal got blocked last year. Current negotiations with new buyer face major hurdles while paper stays in business-decision limbo
Santander sets aside millions as car loan scandal hits bank profits
British arm of Santander bank faces huge costs from car finance mis-selling investigation. Banks profits drop as it prepares for possible customer compensation payouts from lending practices
Paper avalanche: How one bank's unusual tactic affects thousands of car owners
A major UK bank sends truckloads of paper mail to lawyers handling car-finance claims‚ while other banks use email. This unusual approach costs around quarter-million pounds weekly in processing
UK banks might lose billions: Double trouble from old and new scandals
Major UK banks face two massive legal challenges over hidden commission payments. A new £18bn PPI lawsuit emerges while car finance scandal continues to grow - total claims could reach £34bn
UK car market faces unexpected hit as court ruling shakes up dealer payments
Major UK banks halt car loans after court changes rules about dealer payments. New legal requirements force quick changes in car sales process‚ affecting both dealers and buyers across Britain