A brief look into the history of Lloyd’s BankMember News
Patrons of the Made in Group Lloyds Bank plc began their journey as manufacturers based in Birmingham. Now one of the biggest banks in the UK, we take a brief look into their history.
Lloyd’s was founded in Birmingham, West Midlands and are known as the largest retail and commercial banks in England and wales. The Manufacturing sector is a core focus for Lloyds Bank and having originally pledged to lend in excess of £6 billion to manufacturers between 2013 and 2018.
“We have increased our commitment to the sector by pledging a further £1 billion per year of new lending until the end of 2020. This lending forms a central part of Lloyds Bank’s support to the UK manufacturing sector and our Helping Britain Prosper Plan – a series of commitments to help local businesses and communities prosper across the UK”.
1765: Where it all began
The company began when button maker John Taylor and Quaker iron producer Sampson Lloyd came together and started the bank Taylor and Lloyds. The newly found bank was situated in Birmingham town centre and served to manufacturers and merchants.
1852: The right place at the right time
For the past one hundred years, Lloyds had been operating from one office. With the industrial revolution operating between 1820 and 1840, Birmingham was at the forefront of it all and Lloyds was in the right place at the right time. However, 1852 marked the resignation of John Taylor and the company became Lloyds & Company.
1865: Establishing the brand
At this point, Lloyd’s bank is more than well established and decides to bring in a new brand logo, the famous black horse. This was the result of Lloyds taking over Barnetts, Hoares and Co a Lombard street Goldsmith. The original logo for Lloyds was a beehive which represented thrift and industry. The black horse, however, proved to be a hit with its prestigious history and Lombard Street, London connections. For some time the beehive and black horse were used together for promotion.
1900’s: Expanding the business further
Expanding the business even further Lloyd’s begin to settle into Lloyd’s group brand as they take over another London based business Herries, Farquhar and Co an exchange banking company. 1900 also marks the company’s expansion throughout Europe, making their mark in Argentina, Brazil and more.
In 1918 Lloyd’s merged with TSB and becomes Lloyds TSB group.
TSB is another local British bank which still exists today however is part of the Lloyds group.
1995 was a significant year for the Lloyds group’s growth increasing by 50% with 473 branches.
2000’s: Still going up
Lloyd’s has come along way since 1765, employing more women staff after world war one in 1911 to expanding their branches in 1995. The powerhouse of banking firms has seen a long history, withstanding some of the biggest economical and financial crisis’. In 2007 Lloyds TSB won Awards for excellence from Euromoney recognising the growth and success of the company.
2019: Business bank of the year
Lloyd’s offer various benefits within the group, the company recently announced they have a £40,000000 for apprenticeships offering this to companies all over the UK. 2019 also marks the 15th consecutive year the company has been voted Business Bank of the year at the FD’s Excellence Awards which is supported by Real Business.