Lloyds Associated Banking Company Limited (LABCO) was the

merchant bank A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage, it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in comm ...

ing arm of

Lloyds Bank Lloyds Bank plc is a major British retail banking, retail and commercial bank with a significant presence across England and Wales. It has traditionally been regarded one of the "Big Four (banking)#England and Wales, Big Four" clearing house ...

in the United Kingdom from 1971 until 1985, when it became part of the newly formed Lloyds Merchant Bank.

History

LABCOs activities as a licensed deposit-taking institution under the Banking Act 1979, were centred on the raising and lending of sterling funds in the wholesale market, bidding for sterling deposits at market rates independently of the normal branch deposit account system and providing medium-term loans to customers falling outside the bank's usual lending arrangements. Operating principally in the London inter-bank sterling market, it matched deposits and loans closely, thus minimising its exposure to risk. In 1982, Lloyds Associated Banking Company was renamed Lloyds Bank (LABCO) Limited and, in 1985, it became a wholly owned subsidiary of Lloyds Merchant Bank Holdings as a primary market maker in the new gilt-edged market, under the name Lloyds Merchant Bank (Government Bonds) Limited.

Lloyds Merchant Bank

Lloyds' merchant banking activities included

capital markets A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...

corporate finance Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analy ...

, development capital,

export An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is a ...

and project finance, and

investment management Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various Security (finance), securities, including shareholdings, Bond (finance), bonds, and other assets, such as r ...

services. Lloyds Merchant Bank Limited ceased to operate as a separate business unit in 1993, but the parent bank's activities, which were re-organised around market segments, continued in development capital, investment management and stockbroking.Report and Accounts (p. 23), Lloyds Bank Plc, 1992

References

External links

Lloyds Bank Commercial Bank
{{Lloyds Banking Group Lloyds Banking Group Banks established in 1971 Banks disestablished in 1985 Defunct banks of the United Kingdom

History

Lloyds Merchant Bank

See also

References

External links