Lloyds TSB History

1765, Lloyds Bank began life as Taylors & Lloyds in Birmingham, in 1765. It was founded by Sampson Lloyd II, John Taylor and their two sons. Each invested £2,000.

1772, Robert Herries established a bank in London’s West End.

1893, Herries, Farquhar & Co, as it was latterly known, was acquired by Lloyds.

1822, the original symbol of Lloyds Bank was a beehive. It was introduced in 1822, following a highway robbery in which £4,002 of Taylors & Lloyds’ banknotes were stolen.

1853, with the death of James Taylor, grandson of one of the founders, the association between the families ended. The bank was renamed Lloyds & Company.

1865, after 100 years in business, Lloyds & Co. converted from a private partnership to a joint-stock bank. It became Lloyds Banking Company Ltd.

1884, Lloyds Bank inherited the famous black horse symbol in 1884. This sign dates back to the 17th century, when it was used by a goldsmith in the City of London.

Lloyds adopted the black horse with the take-over of Lombard Street bankers Barnetts, Hoares & Co. The sign of the black horse had originally hung above the shop of Lombard Street goldsmith Humphrey Stokes, from as early as 1677.

The Bank’s first symbol, the beehive, continued to be used alongside the black horse until the early 20th century. It still appears on some bank buildings.

1892, The Twining family, famous for its tea business, also established a bank. This was eventually acquired by Lloyds in 1892.

1911, with the takeover of Armstrong & Co. in 1911, Lloyds Bank acquired a presence in France. This marked the start of overseas expansion.

1912, Lloyds Bank made the move from Birmingham to the City of London in 1912. The new Head Office was located in Lombard Street, at the sign of the black horse.

Following the acquisition of Barnetts, Hoares & Co. in 1884, Lloyds Bank had gained a foothold in London, and inherited the black horse symbol. For some years, the Bank operated from both London and Birmingham. But in 1912, the decision was made to transfer all head office operations to London. A stunning art deco building was opened in Lombard Street, in 1930. This served as Head Office until 2003.

1923, Lloyds merged two South American banks to form the Bank of London & South America (BOLSA).

1962, the computerisation of branch accounting systems at Lloyds began. That year saw the installation of the Bank’s first computer, at Pall Mall Branch in London.

1995, Lloyds acquired Cheltenham & Gloucester Building Society. This was the first ever association between a bank and a building society.

1995, Lloyds Bank and TSB merged to form Lloyds TSB. However, it was another four years before the new bank became a high street name.

2000, Lloyds TSB completed the purchase of Scottish Widows. With this acquisition, the Bank inherited one of the strongest brands in the insurance industry.

2001, HBOS Plc was established in September with the merger of Halifax Plc and Bank of Scotland. It became the fifth largest financial services company in the UK.

2008, the Government agrees to help Lloyds TSB and HBOS Plc with the financial crisis they have got themselves into by injecting 17 billion pounds in return for a 43% stake.

2009, Lloyds TSB merge with HBOS Plc.

2009, the Financial Services Authority (FSA) launches a consultation paper proposing measures to force Banks such as Lloyds TSB to pay compensation retrospectively to customers who were mis-sold Payment Protection Insurance (PPI).

2010, Lloyds TSB joined other Banks in seeking a Judicial Review to stop the FSA making them pay compensation retrospectively to customers that were mis-sold PPI.

2011, the High Court Judge presiding over the Judicial Review rules against the Banks.

2011, Lloyds TSB set aside £3.2 Billion for PPI compensation payments to customers.

2014, Lloyds TSB increase their provisions for PPI compensation payment to £11 Billion.

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Lloyds PPI News

Fakes, fraud and forgery in Lloyds PPI selling scandal.

Lloyds PPI claims pot raised to £11 Billion as pay outs soar.

During the last three years over £16 Billion has been paid out in PPI compensation.

£22 Billion is set aside by Banks to compensate for PPI.

Lloyds to announce new £600 Million PPI bill.

The FCA is forcing lenders re-open over 2.5 Million PPI cases.

Lloyds axe 9,000 jobs in bid to pay £11.3 Billion PPI bill.

Four Million more customers may be entitled to PPI pay outs.

Lloyds’ spiralling PPI costs breaks through £10 Billion barrier.

FCA confirm mis-selling PPI bill totals over £352 Million in September 2014 alone.

Lloyds caught in new PPI storm.

Lloyds in trouble over PPI again.

Lloyds accused of short-changing PPI claimants.

Lloyds caught up in another scandal.

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