Lloyds Bank Canada was a wholly owned Canadian subsidiary of
Lloyds Bank
Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the " Big Four" clearing banks. Lloyds Bank is the largest retail bank in Britain, and has an exte ...
Plc of the United Kingdom from 1986 to 1990. Its headquarters were in
Toronto
Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anch ...
, 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
The National Bank of New Zealand Limited (NBNZ), often referred to as The National Bank, was one of New Zealand's largest banks. Throughout much of its history, the National Bank provided commercial banking services to mainly major industrial and ...
.
Lloyds Bank International opened two new offices in Canada in 2009, offering its international mortgage.
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
The Continental Bank of Canada is a chartered bank in Canada founded in 2013. A different bank operated under that name in the early 1980s.
First Continental Bank
The first Continental Bank had its origins in 1925 when the Industrial Acceptance ...
. 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.
[Report and Accounts (p. 35), Lloyds Bank Plc, 1989] In 1999, HBC changed its name to
HSBC Bank Canada
HSBC Bank Canada (french: Banque HSBC Canada), formerly the Hongkong Bank of Canada (HBC), is a Canadian chartered bank and the Canadian subsidiary of British multinational banking and financial services company HSBC. HSBC Canada is the seventh ...
, consistent with its parent's strategy of creating a global brand.
See also
*
Bank of London and South America
The Bank of London and South America Limited (BOLSA; es, Banco de Londres y América del Sur, also known simply as ''Banco de Londres'') was a British bank, which operated in South America between 1923 and 1971.
Origins
The bank's predecessor w ...
*
Bank of London and Montreal
*
Lloyds Bank California
*
Sabadell Solbank
References
Defunct banks of Canada
Lloyds Banking Group
HSBC acquisitions
Banks established in 1986
Banks disestablished in 1990
{{Canada-company-stub