Trustee Savings Bank
Trustee Savings Bank Revival
After months of speculation it has been announced by Lloyd's that Lloyd's banking group will part ways with the TSB
part of it's Lloyd's TSB brand & return to it's original brand name Lloyd's Bank. The TSB or Trustee Savings Bank
name still frozen in the hearts of Briton's will be sold as a separate entity as it prepares to meet European Commission
demands to be sold.
By the end of 2013 the majority of branches, products and services currently branded Lloyd's TSB will operate under
the Lloyd's Bank brand. In November, Lloyd's agreed with European competition officials that in return for its
Government bail-out, it would sell a stand-alone retail banking business with at least 600 branches, a 4.6% share of
the UK personal current accounts market and up to 19% of mortgages. Despite the fact that TSB is one of the best
known names in the UK bank industry this is the price the company has had to pay to guarantee its future.
Lloyd's TSB Scotland will become Lloyd's Bank in line with the branding south of the border. No changes will be made
to the Bank of Scotland brand. The TSB name has a long Scottish heritage, traceable back to the Trustee Savings
Bank established in 1810 in Dumfriesshire.It is understood that the Trustee Savings Bank name will be revived, which
has not appeared in that form on the high street for decades.
"The Trustee Savings bank brand is associated with all that was good about banking" said insider Stephen Green,"it
was never part of the credit mess that people associate with the usual big names & is steeped in traditional banking
The Trustee Savings Bank, or TSB as it was commonly known, was a British financial institution which specialised in
accepting savings deposits from the poor. They did not trade their shares on the stock market and, unlike mutually
held building societies, depositors had no voting rights nor the ability to direct the financial and managerial goals of the
organisation set up by the Reverend Henry Duncan 200 yrs ago this very year.
Banking Today With Yesterdays Values
September /14 /2010