Enterprise Risk Management at Lloyds TSB

Lloyds TSB¹, one of the leading players in the UK banking and insurance industry was involved in various businesses-retail and commercial banking, account management services for businesses and private individuals, debit cards, asset management, and even mortgage loans.

It was also a leader in the field of insurance. Lloyds TSB was renowned throughout the world for insuring a wide range of risks, even the most unusual ones. With over 2,500 branches, Lloyds had expanded globally and had locations throughout the world. International business comprised nearly 20% of the bank's total revenue.

In 1765, John Taylor and Sampson Lloyd II founded Taylors and Lloyds bank in Birmingham, England. In 1852, the last Taylor involved with the bank died. In 1865, the bank converted to joint stock form and became Lloyds Banking Company Ltd. Over the next 50 years, it grew by merging with some 50 banks, becoming one of England's largest banks by the turn of the century. After the First World War, the bank acquired Capital and Counties Bank (1918); Fox, Fowler & Company (1921); and Cox & Company (1923). During both wars, deposits grew while lending dropped. After the Second World War, growth was hampered by high inflation.