One of the largest takeovers that Lloyds embarked upon was in 1918 when it took over the Capital and Counties Bank. This was instead of all the accounting completed in handwritten ledgers. Additionally, there was a gradual change over to mechanisation. Like other banks, Lloyds started to employ more women staff during the period of the first world war. It expanded both in the UK, and it slowly began to make inroads into the overseas markets. Lloyds continued to expand in the twentieth century. It was a business that had introduced the concept of the traveller’s cheque. In 1893, Lloyds took over Herries, Farquhar & Co. Another, important company included in the Lloyds takeover push was Twinings Bank. The symbol was previously used by the bank that was taken over. The bank first used the famous Black Horse symbol at this time. Joining Barclays Bank, Lloyds settled in Lombard Street when it took over Barnetts, Hoares and Co. By the 1880s the bank decided to make a foray into London, the hub of banking. During the next 50 years, Lloyds expanded and took over 200 smaller enterprises. It included Joseph Chamberlain who was later to become the Mayor of Birmingham. The need for more capital saw Lloyds expand and a board of directors appointed. The bank became Lloyds & Company, and in 1865 it became a ‘limited’ concern.
In 1852, the Taylors dropped out of the business. It was during the period when Birmingham was becoming a powerhouse of the Industrial Revolution. Based in the centre of the town, the bank served manufacturers and merchants.įrom a single office, the bank operated for over 100 years. They started a bank called Taylors and Lloyds. It began when John Taylor, a button maker, and Sampson Lloyd, an iron producer joined forces. Lloyds Bank was founded in 1765 in the city of Birmingham. In this article, we will look at a short history of Lloyds Banking Group. This guide to the leading banks of the UK attempts to help us understand how the UK economy has been affected by the history of its banking. How did Lloyds start from button making and iron producing and go onto become one of the big four banks in the UK? Read the history to find out the fascinating story of Lloyds banking rags to riches.Ĭashfloat is a London based short term loan provider.
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