What company was created by the 2009 merger of Lloyds TSB and HBOS?

Lloyds Banking Group was created by the 2009 merger of Lloyds TSB and HBOS.

Lloyds TSB agreed to acquire HBOS in 2008 during the global financial crisis, with the transaction completing on January 19, 2009. The combined group brought together Lloyds TSB’s banking operations and HBOS businesses including Halifax and Bank of Scotland.

The British government supported the transaction as the crisis placed severe pressure on HBOS. It later became a major shareholder in Lloyds Banking Group after providing capital to stabilize the bank. The enlarged group retained well-known consumer brands rather than replacing every brand with the group name.

A common mix-up is calling the result HBOS, but HBOS was the company acquired by Lloyds TSB. Another separate British banking combination created NatWest Group, formerly known as The Royal Bank of Scotland Group.