Lloyds
TSB Group (UK)



Lloyds
TSB was one of the first UK financiers to expand its
horizons through acquisition, as a result of the capture of both TSB and pensions group Scottish Widows.
Those deals made the enlarged Lloyds the country's biggest bank by 2000. After
that, however, the group's growth strategy was less successful, and it was
gradually overtaken by all its main rivals.
Lloyds TSB tried to enhance its position by merging with an
unwilling Abbey National, but this deal was
vetoed by regulators. Subsequently, the group's enlarged insurance and
investments operation was hard hit by global economic turbulence, and it pulled out of the international sector altogether to concentrate on the
domestic market. That withdrawal left it well-protected from the credit
crisis, originating in the US, which swept the industry from 2007. As a
result, it was able to pull off a transformational deal in September 2008
which will re-establish it as the country's biggest bank: the acquisition
of failing rival HBOS for around £8.6bn.
However the gathering pace of the global financial crisis was such that Lloyds
TSB required government assistance to pull off the merger. Click here to access the Adbrands profile (subscribers only);
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Competitors: see Financial
& Insurance Sector index for other companies


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Lloyds
TSB Group website


Lloyds TSB International Banking
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