Lloyds Banking Group plc is a British multinational financial services company.
• Revenue: $65.61 B
• Market Value: $84.4 B
It is headquartered in London, UK. It is the fourth oldest company in the history of UK. Lloyds Bank started in 1765. In 1995, Lloyds TSB was formed through the successful merger of TSB and Lloyds Bank. In 2009, Lloyds TSB acquired HBOS and the group was named Lloyds Banking Group plc. Due to this major acquisition, the share price of Lloyds Banking Group fell by 32% in LSE in early 2009. The UK government purchased 43.4% stake in the group in the form of state aid. Lloyds Banking Group reached an agreement to divest a part of its business “Verde” to The Co-operative Bank for £750 million. In 2013, The Co-operative Bank decided not to proceed with the acquisition and the rebranding took place through an initial public offering of TSB Bank.
The group’s strategic goal is to become the best bank for customers and shareholders worldwide. The group operates through 4 business segments – retail, commercial banking, insurance and consumer finance.