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 companays
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).