Lloyds Bank Canada
Template:Short description Template:Infobox company Lloyds Bank Canada was a wholly owned Canadian subsidiary of Lloyds Bank Plc of the United Kingdom from 1986 to 1990. Its headquarters were in Toronto, and it had 53 branches throughout Canada. It functioned as a member of the Lloyds Bank Group, whose overseas domestic banking interests also included the National Bank of New Zealand.
Lloyds Bank International opened two new offices in Canada in 2009, offering its international mortgage.<ref>McLister, Robert Lloyds Bank International, Mortgages for Canadians Canadian Mortgage Trends, 27 February 2009</ref>
History
Lloyds Bank Canada was chartered in 1986, when Lloyds Bank acquired 90 per cent of the assets and most of the liabilities of the Continental Bank of Canada.<ref>Report and Accounts (p. 8), Lloyds Bank Plc, 1986</ref> Continental Bank had been formed earlier in the 1980s, when Niagara Finance Company, later IAC Limited, decided to expand the scope of operations.
In 1989, after several years of losses, agreement was reached for the sale of Lloyds Bank's interest in the whole of the issued share capital of the Canadian operation to the Hongkong Bank of Canada, a subsidiary of London-based HSBC Holdings, for a consideration of CAD 190 million.<ref>Report and Accounts (p. 35), Lloyds Bank Plc, 1989</ref> In 1999, HBC changed its name to HSBC Bank Canada, consistent with its parent's strategy of creating a global brand.
See also
- Bank of London and South America
- Bank of London and Montreal
- Lloyds Bank California
- Sabadell Solbank
References
Template:Canadian banks Template:Lloyds Banking Group Template:HSBC