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In October 2011, Lloyds TSB's credit rating was reduced by Moody's from Aa3 to A1. [35] The action was taken in the light of a shift in government policy to move risk from taxpayers to creditors by reducing the level of support offered to financial institutions. Lloyds TSB was the first Official Partner for the 2012 Summer Olympics in London. [36]
A number of Lloyds TSB branches in England and Wales, together with all branches of Lloyds TSB Scotland and Cheltenham & Gloucester, were brought together to form the new business, which operates under the TSB brand. [3] The remainder of the Lloyds TSB business was rebranded back to the Lloyds Bank name. [13]
In July 2007, Euromoney announced Lloyds TSB as the winners of its Awards for Excellence. [83] In June 2008, Lloyds TSB Group came top in the Race for Opportunity's (RfO) annual survey. [84] In May 2009, Lloyds TSB Corporate Markets was recognised as 'Bank of the Year' for the fifth year running at Real FD/ CBI FDs' Excellence Awards. [85]
Lloyds TSB, the name used by Lloyds Bank in the United Kingdom from 1999 to 2013; TSB Bank (United Kingdom), a bank that split from Lloyds Bank in 2013 and divested through a stock market flotation; In other countries: Permanent TSB, formerly Irish Life and Permanent and originally Trustee Savings Bank in the Republic of Ireland
After a provisional agreement to sell the Lloyds TSB Scotland business to Co-operative Banking Group fell through in early 2013, Lloyds decided to divest it through a stock market flotation. [23] The new TSB Bank began operations on 9 September 2013, [24] at which time the remainder of Lloyds TSB was renamed to Lloyds Bank.
Lloyds TSB Offshore was formed in Jersey in 2004, with branches in Guernsey and the Isle of Man. In 2013, Lloyds TSB Offshore, incorporating the former Bank of Scotland International, was renamed Lloyds Bank International. At the same time, Lloyds TSB Bank (Gibraltar), which also traded as Lloyds Bank International, became Lloyds Bank (Gibraltar).
However, by October of that year a final successful takeover bid was made by the TSB Group Plc., one of the United Kingdom's largest retail banks at the time. [9] By 1995, the merger of TSB Group and Lloyds Bank led Hill Samuel to become a subsidiary of Lloyds TSB, now restructured and renamed as Lloyds Banking Group. [10]
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