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The history of Lloyds Bank

Lloyds Bank has a history which can be traced directly back to 1765 when button maker John Taylor and iron dealer Samson Lloyd set up a private banking operation in Birmingham. However, despite having a history which goes back to 1765 it was not until 1864 that the first branch of Lloyds Bank was opened in Oldbury. Over the years the company has acquired various banking operations around the world most notably TSB Bank in 1995, although the failed attempted merger with Barclays bank in 1968 also attracted much interest.

The company now has banking branches in New Zealand, South America, North America, Europe as well as venturing into the mutual society sector with the acquisition of Cheltenham and Gloucester building society in 1995. Recently the company was the subject of a controversial merger with HBOS with rumours that the UK government pleaded with Lloyds Bank directors to save the flailing HBOS operation, with ultimately disastrous consequences for Lloyds Bank itself.

The business tentacles of Lloyds Bank stretch into everything from insurance to savings, from mortgages to loans and investment banking. However, the business model has been seriously undermined with the acquisition of HBOS and the former conservative approach of Lloyds Bank has been blown out of the water.

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