Lloyds TSB History

Lloyds Bank was founded as the private bank of Taylors & Lloyds in Birmingham in June 1765. For nearly 100 years it prospered from a single Birmingham office.

Changes in legislation and a need for increased capital led the firm to convert to joint-stock status in 1865. This resulted in an explosion of growth and the first of many take-overs.

In the 1880s Lloyds, turned its attention to London. In 1884 it absorbed the Lombard Street bank of Barnetts, Hoares, Hanbury & Lloyd. This marked the beginning of the bank’s association with the famous black horse; Barnetts, Hoares & Co. had inherited the symbol, which had originally been used by a Lombard Street goldsmith as early as 1677.

The first half of the 20th century saw the bank's expansion overseas, including continental Europe, South America and India. Cheltenham & Gloucester Building Society joined the group in 1995.

Cartoon from Lloyds Bank staff magazine 'The Dark Horse', 1920, showing the horse and beehive.
Cartoon from Lloyds Bank staff magazine 1920

The savings bank movement started in 1810, when the Reverend Henry Duncan opened the first self supporting savings bank in Ruthwell, Dumfriesshire. The movement aimed to persuading the poor to save. The savings banks were independent of each other, until they united in the 1970s and amalgamated into regional institutions. This was followed, in 1986, by flotation on the stock exchange and the creation of TSB Group plc.

Lloyds Bank and TSB Group plc merged in 1995 to form Lloyds TSB.  The new group took over Scottish Widows in 2000.

TSB advert c. 1950

Liverpool Savings Bank depositors, c. 1914

Further information
Our Group Archives department has an extensive archive of Lloyds TSB material.

For more information, please contact: group.archives@lloydstsb.co.uk

Lloyds Banking Group Archives
2nd Floor, 48 Chiswell Street
London
EC1Y 4XX