Editing Lloyds Bank (section)

===Lloyds TSB===
[[File:Lloyds tsb logo.svg|thumb|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 [[Trustee Savings Bank|TSB Group]] in 1995.<ref>{{cite web|url=https://www.telegraph.co.uk/news/obituaries/7430780/Sir-Brian-Pitman.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/news/obituaries/7430780/Sir-Brian-Pitman.html |archive-date=12 January 2022 |url-access=subscription |url-status=live |title=Obituary: Sir Brian Pitman |work=The Telegraph |date=12 March 2010 |access-date=29 March 2012}}{{cbignore}}</ref><ref>{{cite web|author=Roger Cowe |url=https://www.theguardian.com/business/2010/mar/11/sir-brian-pitman-obituary |title=Obituary: Sir Brian Pitman |work=The Guardian |date=11 March 2010 |access-date=29 March 2012}}</ref> The C&G acquisition gave Lloyds a large stake in the UK [[mortgage]] lending market.<ref>[http://www.cheltglos.co.uk/about-candg.html About C&G] Cheltenham and Gloucester (retrieved 11 October 2008)</ref> 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 new bank commenced trading in 1999 after the statutory process of integration was completed.<ref>[https://www.legislation.hmso.gov.uk/acts/localact1998/ukla_19980005_en_1 Lloyds TSB Act 1998] (c. v)</ref> On 28 June, TSB Bank plc transferred engagements to Lloyds Bank Plc which then changed its name to Lloyds TSB Bank plc; at the same time, TSB Bank Scotland plc absorbed Lloyds' three Scottish branches becoming Lloyds TSB Scotland plc. The combined business formed the largest bank in the UK by market share and the second-largest to Midland Bank (now [[HSBC Bank (Europe)|HSBC]]) by market capitalisation. Lloyds' iconic black horse device was retained and modified to reflect the TSB merger.<ref>[http://www.lloydsbankinggroup.com/Our-Group/our-heritage/the-black-horse/ The Black Horse] Lloyds Banking Group (retrieved 13 June 2016)</ref><ref>[http://news.bbc.co.uk/1/hi/business/379989.stm Banks turn to branding] BBC News, 28 June 1999</ref>

Lloyds Abbey Life became a wholly owned subsidiary of the group in 1996, absorbing [[Hill Samuel]] in 1997, before closing to a new business in 2000. In 2007, Abbey Life was sold to [[Deutsche Bank]] for £977 million.<ref>{{cite news |title=Lloyds sells Abbey Life for £977m |last=Blackden |first=Richard |url=https://www.telegraph.co.uk/finance/markets/2813187/Lloyds-sells-Abbey-Life-for-977m.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/markets/2813187/Lloyds-sells-Abbey-Life-for-977m.html |archive-date=12 January 2022 |url-access=subscription |url-status=live |newspaper=The Telegraph |date=31 July 2007 |access-date=22 September 2013}}{{cbignore}}</ref>

In 1999, the group agreed to buy the [[Scottish Widows]] Fund and Life Assurance Society for £7 billion.<ref>{{cite news |title=Lloyds TSB buys Scottish Widows |url=http://news.bbc.co.uk/1/hi/business/375807.stm |work=BBC News |date=23 June 1999 |access-date=22 September 2013}}</ref> The society demutualised in 2000, shortly before the acquisition was completed.<ref>{{cite news |title=Q&A: Standard Life demutualisation |url=http://news.bbc.co.uk/1/hi/business/3586021.stm |work=BBC News |date=31 March 2004 |access-date=22 September 2013}}</ref> In 2001, Lloyds TSB made a bid to acquire [[Abbey National]]; however, the bid was blocked by the [[Competition Commission]], who ruled that a merger would be against the public interest.<ref>{{cite news |title=Lloyds TSB/Abbey tie-up blocked |url=http://news.bbc.co.uk/1/hi/business/1431569.stm |work=BBC News |date=10 July 2001 |access-date=22 September 2013}}</ref>

In October 2011, Lloyds TSB's credit rating was reduced by [[Moody's]] from Aa3 to A1.<ref>{{cite web|url=http://www.moodys.com/research/Moodys-downgrades-12-UK-financial-institutions-concluding-review-of-systemic--PR_227067 |title=Moody's downgrades 12 UK financial institutions |publisher=Moodys.com |date=7 October 2011 |access-date=29 March 2012}}</ref>  The action was taken in the light of a shift in government policy to move risk from taxpayers to creditors by reducing the level of support offered to financial institutions.

Lloyds TSB was the first Official Partner for the [[2012 Summer Olympics]] in London.<ref>{{cite news |title=Lloyds TSB becomes Olympic sponsor |last1=Seawright |first1=Stephen |last2=Muspratt |first2=Caroline |url=https://www.telegraph.co.uk/finance/2805703/Lloyds-TSB-becomes-Olympic-sponsor.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/2805703/Lloyds-TSB-becomes-Olympic-sponsor.html |archive-date=12 January 2022 |url-access=subscription |url-status=live |newspaper=The Telegraph |date=14 March 2007 |access-date=22 September 2013}}{{cbignore}}</ref>