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Type | Private limited company |
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Industry | Banking and financial services |
Founded | 2013 (1911) |
Headquarters | , |
Products | Retail and Commercial banking |
Parent | Lloyds Banking Group |
Website | international |
Lloyds Bank International is a wholly owned subsidiary of Lloyds Bank Corporate Markets in the United Kingdom, which is in turn part of Lloyds Banking Group, one of the largest banking groups in Europe.
Lloyds Bank's overseas expansion began in 1911 and the Lloyds Bank International name, historically a major international commercial bank, [1] is now used for the group's offshore banking interests. [2]
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).
In 2014, the Swiss wealth management bank, Union Bancaire Privee, bought Lloyds Banking Group’s non-UK private banking businesses in Monaco and Gibraltar.
In 2015, Lloyds Bank International employed over 1,000 people in the Channel Islands and Isle of Man.
In 2013, the Amsterdam branch of Bank of Scotland also transitioned to the Lloyds Bank name, while a Berlin branch continues to trade as Bank of Scotland. The branch offers personal mortgages and acquires private savings in the Netherlands over the internet and through intermediaries. Lloyds Bank has been separately active in the Dutch commercial banking market since 1966. [3]
The former Lloyds Bank International (LBI), both directly and through its banking subsidiaries, BOLSA and BOLAM, [4] together with the National Bank of New Zealand, Lloyds Bank California and the colonial and foreign (later overseas) department of Lloyds Bank, was responsible for the international and foreign banking business of the Lloyds Bank group of companies from 1974 until a rationalisation of the business in 1986. At its inception, LBI employed 11,000 people of many nationalities; of this total, some 1,400 worked in the UK. [5]
In 1911, Lloyds Bank (France) was formed when the bank acquired Armstrong and Co., based in Paris and Le Havre. From 1917, it was run jointly as Lloyds and National Provincial Foreign Bank. In 1955, the bank bought full ownership and it became Lloyds Bank (Foreign). In 1964, with branches in London, Paris, Biarritz, Bordeaux, Le Havre, Lille, Nice, Roubaix, St Jean de Luz, Cannes, Brussels, Antwerp, Geneva, Zurich and Monte Carlo and flourishing with the development of the profitable Eurodollar market, Lloyds Bank (Foreign) was renamed Lloyds Bank Europe. [6]
In 2010, following the takeover of HBOS by Lloyds TSB Group, Lloyds TSB Spain and Banco Halifax Hispania S.A.U. became Lloyds Bank International S.A.U. In 2014, Banco de Sabadell completed the acquisition of the Spanish operation and renamed it Sabadell Solbank S.A.U. [7]
A strong connection with Latin America began in 1918, with the acquisition of the London and River Plate Bank. The 1923 merger of this bank with the London and Brazilian Bank resulted in the Bank of London and South America. Further expansion occurred in 1936, when BOLSA took over the Anglo-South American Bank.
The Bank of London and Montreal was a joint venture between the Bank of London and South America and the Bank of Montreal, established in 1958 and headquartered in the Bahamas.
In 1970, BOLSA acquired full control BOLAM and, in 1971, Lloyds Bank bought the controlling interest in BOLSA and merged it with Lloyds Bank Europe to form Lloyds and Bolsa International Bank, [8] which became Lloyds Bank International in 1974, as it further strengthened its position in international markets.
In 1986, LBI's undertakings were vested in the parent Lloyds Bank by private Act of Parliament as changes in international bank taxation arrangements meant its ongoing existence no longer offered any commercial advantage. [9]
Although its foreign interests were focussed on western Europe and south America, by 1985, Lloyds Bank had offices in 45 countries worldwide.
In 1872, the National Bank of New Zealand was founded in London as an overseas bank and shared many directors with Lloyds Bank. In 1919, Lloyds Bank acquired a small interest in the National Bank and in 1966, purchased it outright. In 1978, the National Bank moved its head office from London to Wellington. [10]
The commanding presence of the National Bank was further strengthened in 1994, by the takeover of the former government-owned Rural Bank from Fletcher Challenge, making it the country's leading provider of agricultural finance. In 2003, Lloyds TSB sold the National Bank to the Australia and New Zealand Banking Group and in 2013, ANZ announced that the National Bank brand (including the black horse device and colour green) would be retired.
In 1961, Lloyds Bank transferred its eastern division (including Cox's & King's, British army agents) to National and Grindlays Bank in exchange for a 25 per cent share in National and Grindlays (renamed Grindlays Bank in 1975). The bank retained its interest in Grindlays until 1984, when it was sold to the ANZ Banking Group. In 2014, it was announced that Lloyds' Coxs and Kings branch would close by 2016. [11]
In 1974, Lloyds Bank acquired First Western Bank and Trust Company, renaming it Lloyds Bank California to reflect the change in ownership. Lloyds Bank California acquired First State Bank of Northern California in 1976, and, in 1986, its 88 branches and US$3 billion in assets, were divested to Japanese-owned Golden State Sanwa Bank for $263 million in cash. [12]
Lloyds Bank Canada was formed in 1986, when the bank purchased the Continental Bank of Canada. In 1990, after several years of losses, Lloyds Bank sold its Canadian operation to the Hongkong Bank of Canada, a subsidiary of HSBC Holdings.
The National Bank of New Zealand Limited (NBNZ), often referred to as The National Bank, was one of New Zealand's largest banks. Throughout much of its history, the National Bank provided commercial banking services to mainly major industrial and rural as well as some personal customers.
Banco de Sabadell, S.A. is a Spanish multinational financial services company headquartered in Alicante and Barcelona, Spain. It is the fifth-largest Spanish banking group. It includes several banks, brands, subsidiaries and associated banks. It is a universal bank and specialises in serving small and medium enterprises (SMEs) and the affluent with a bias towards international trade.
Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four" clearing banks. Lloyds Bank is the largest retail bank in Britain, and has an extensive network of branches and ATMs in England and Wales and offers 24-hour telephone and online banking services. As of 2012 it has 16 million personal customers and small business accounts.
The Trustee Savings Bank (TSB) was a British financial institution. Trustee savings banks originated to accept savings deposits from those with moderate means. Their shares were not traded on the stock market but, unlike with mutually held building societies, depositors had no voting rights; nor did they have the power to direct the financial and managerial goals of the organisation. Directors were appointed as trustees on a voluntary basis. The first trustee savings bank was established by Reverend Henry Duncan of Ruthwell in Dumfriesshire for his poorest parishioners in 1810, with its sole purpose being to serve the local people in the community. Between 1970 and 1985, the various trustee savings banks in the United Kingdom were amalgamated into a single institution named TSB Group plc, which was floated on the London Stock Exchange. In 1995, the TSB merged with Lloyds Bank to form Lloyds TSB, at that point the largest bank in the UK by market share and the second-largest by market capitalisation.
HSBC Bank Canada, formerly the Hongkong Bank of Canada (HBC), is the Canadian subsidiary of British multinational banking and financial services company HSBC. HSBC Canada is the seventh largest bank in Canada, with offices in every province except Prince Edward Island, and is the largest foreign-owned bank in the country. The corporate headquarters are located at the HSBC Canada Building in the downtown core's financial district of Vancouver, British Columbia. HSBC Bank Canada's Institution Number is 016.
The Australia and New Zealand Banking Group Limited, commonly called ANZ, is an Australian multinational banking and financial services company headquartered in Melbourne, Australia. It is the second largest bank by assets and third largest bank by market capitalisation in Australia.
Lloyds Bank Canada was a wholly owned Canadian subsidiary of Lloyds Bank Plc of the United Kingdom from 1986 to 1990. Its headquarters were in Toronto, and it had 53 branches throughout Canada. It functioned as a member of the Lloyds Bank Group, whose overseas domestic banking interests also included the National Bank of New Zealand.
Bank of Scotland International Limited was the international banking division of Bank of Scotland. Established in 2003, it was headquartered in Jersey, Channel Islands and operated branches in the Isle of Man and Hong Kong, until merging with Lloyds TSB Offshore in 2011, under the Lloyds TSB International brand.
The Bank of London and Montreal Limited was a joint venture between Bank of London and South America (BOLSA), a subsidiary of Lloyds Bank, and Bank of Montreal. It was established in 1958 and headquartered in Nassau, Bahamas.
The historic overseas bank was established in London in 1828 as Leslie & Grindlay, agents and bankers to the British army and business community in India. Banking operations expanded to include the Indian subcontinent, the Middle East and elements of Africa and Southeast Asia. It was styled Grindlay, Christian & Matthews in 1839, Grindlay & Co from 1843, Grindlay & Co Ltd from 1924 and Grindlays Bank Ltd in 1947 until its merger with the National Bank of India.
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. The Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695.
The Bank of London and South America Limited was a British bank, which operated in South America between 1923 and 1971.
The International Bank of Qatar (ibq) is an established private sector bank operating in Qatar since 1956. The bank offers a range of products and services across retail, private and corporate banking divisions.
International Westminster Bank Plc was a wholly owned subsidiary of National Westminster Bank and its predecessors from 1913 to 1989, with branches in London, France, Spain and West Germany.
TSB Bank plc is a retail and commercial bank in the United Kingdom and a subsidiary of Sabadell Group.
Sabadell Solbank was a Spanish bank owned by Banco de Sabadell, which focussed on retail banking for Europeans living in the coastal areas of southern Spain. In 2014, it was fully integrated into the parent company.
Lloyds Bank California was a wholly owned subsidiary of Lloyds Bank Plc in the United Kingdom from 1974 to 1986. Throughout its existence, the US retail banking operation functioned as an autonomous unit of the Lloyds Bank Group, alongside Lloyds Bank International and the National Bank of New Zealand.
Black Horse Limited is a motor finance company based in the United Kingdom. It was formed in July 2001, as a wholly owned subsidiary of Lloyds Banking Group, but its origins can be traced back to 1922.
Lloyds and National Provincial Foreign Bank Limited was a joint venture in France between London-based Lloyds Bank and National Provincial Bank, which existed from 1917 to 1955.