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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]
On 18 September 2008, Lloyds TSB plc entered into a confirmed agreement to take over HBOS plc (HBOS plc included Halifax Bank and The Bank of Scotland), which took effect on 19 January 2009, when HBOS was acquired and folded into Lloyds Banking Group.
The TSB merger was structured as a reverse takeover; Lloyds Bank Plc was delisted from the London Stock Exchange and TSB Group plc was renamed Lloyds TSB Group plc on 28 December, with former Lloyds Bank shareholders owning a 70% equity interest in the share capital, effected through a scheme of arrangement.
The merger was structured as a reverse takeover by TSB; Lloyds Bank plc was delisted from the London Stock Exchange and TSB Group plc was renamed Lloyds TSB Group plc on 28 December, with former Lloyds Bank shareholders owning a 70% equity interest in the share capital, effected through a scheme of arrangement.
In July 2007, Euromoney announced Lloyds TSB as the winners of its Awards for Excellence. [85] In June 2008, Lloyds TSB Group came top in the Race for Opportunity's (RfO) annual survey. [86] 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. [87]
Following the transfer of all C&G branches to TSB Bank plc, C&G products could be serviced at Lloyds Bank branches, by phone or by post. [27] By April 2017, all remaining mortgage administration had been transferred to Lloyds Bank and rebranded [ 28 ] and the only remaining products were legacy savings accounts, with the last remaining C&G ...
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