Enterprise Risk Management at Lloyds TSB|Enterprise Risk Management|Case Study|Case Studies

Enterprise Risk Management at Lloyds TSB

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Case Details:

Case Code : ERMT-022
Case Length : 23 Pages
Period : 2003
Pub Date : 2003
Teaching Note :Not Available
Organization : Lloyds TSB
Industry : Banking and Insurance
Countries : UK

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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.

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To strengthen its competitive position, Lloyds TSB was expanding its asset management services, repositioning existing insurance, pension, and savings products, and reducing its workforce. In 2002, Lloyds TSB recorded sales of 8,878 million and a net income of 1,781 million.

Background Note

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.

By 1971, Lloyds had branches in 43 countries. It moved into insurance (1972), home mortgages (1979), real estate agency services (1982), and merchant banking (1986). The bank sold overseas subsidiaries and acquired 58% of life insurer Abbey Life (1988) and Cheltenham & Gloucester Building Society (1994). In 1995, Lloyds bought TSB Group.

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1] Lloyds TSB is unrelated to the world-renowned Lloyd's of London insurance exchange.


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