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Lloyds TSB logo

Lloyds TSB was formed out of the merger of Lloyds Bank and TSB Group four years ago.  This makes them the second largest bank in the UK, behind HSBC's takeover of Midland Bank.

With the merger of Lloyds and TSB the bank has been targetting to save 400 million per annum in costs with the takeover of Scottish Widows from March 2000 now doubt they will be looking to save even more.  How will these costs effect you, the bank's customer?

In 1999, Lloyds TSB profit was up 20% to 3.6 Billion and the companay’s turnover was up 11% to 7.8 Billion.

Lloyds TSB has a market capitalisation of around 35 Billion placing them in the Top 10 in the FTSE (Financial Times Share Index).



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