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The Lloyds TSB logotype, used 1995–2009 (group) and 1999–2013 (bank) The bank merged first with the newly demutualised Cheltenham & Gloucester Building Society (C&G), then with the TSB Group in 1995. [25] [26] The C&G acquisition gave Lloyds a large stake in the UK mortgage lending market. [27]
In 2009, following the UK bank rescue package, the Government of the United Kingdom took a 43.4% stake in Lloyds Banking Group, which later announced that it would sell a standalone retail banking business of 632 branches and most accounts held at those branches in order to comply with European Commission state aid requirements. [12]
Lloyds Banking Group plc is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. [4]
Unlike some other major economies, the UK does not have a major stratum of independent local banks. The number of independent banks shrank further during 2008: Northern Rock was nationalised by the UK Government (and is now owned by Virgin Money ), followed by Bradford & Bingley ; Alliance & Leicester was acquired by Santander , who merged it ...
Leeds Building Society. If you are looking for the best easy-access account, then Leeds Building Society offers a top rate of 5.1 per cent, as long as the deposit is a minimum of £1,000.
On 9 June 2009, it was reported that Lloyds Banking Group would close Cheltenham & Gloucester's 164 branches in November of that year, at the cost of around 1,660 jobs. [13] Lloyds stated that the C&G brand name would be retained for mortgages and savings, while customers could use any branch of Lloyds TSB to access their accounts. [14]
No-penalty CDs usually offer higher interest rates than regular savings accounts. Fixed interest rate. Your interest rate is locked in for the CD’s full term, so your earnings won’t change if ...
Sainsbury's and Bank of Scotland (later a subsidiary of Lloyds Banking Group) formed the bank as a joint venture, and it received a full banking licence from the Bank of England in January 1997. It launched on 19 February 1997. On 8 May 2013, Sainsbury's announced it would buy the 50% share in the business owned by Lloyds Banking Group. [7]
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