<P> Trustee Savings Bank (TSB) can trace its roots back to the first savings bank founded by Henry Duncan in Ruthwell, Dumfriesshire in 1810 . TSB itself was created in 1985 by an Act of Parliament that merged all the remaining savings banks in England & Wales as TSB Bank plc and in Scotland (except Airdrie Savings Bank) as TSB Scotland plc . </P> <P> In 1995, Lloyds Bank merged with TSB, forming Lloyds TSB Group plc . </P> <P> In 2000, the group acquired Scottish Widows, a mutual life - assurance company based in Edinburgh, in a deal worth £ 7 billion . This made the group the second - largest UK provider of life assurance and pensions after Prudential . In September the same year, Lloyds TSB purchased Chartered Trust from Standard Chartered Bank for £ 627 million to form Lloyds TSB Asset Finance Division, which provides motor, retail and personal finance in the United Kingdom under the trading name Black Horse . </P> <P> Lloyds TSB continued to take part in the consolidation, making a takeover bid for Abbey National in 2001, which was later rejected by the Competition Commission . In October 2003, Lloyds TSB Group agreed on the sale of its subsidiary NBNZ Holdings Limited--comprising the Group's New Zealand banking and insurance operations--to Australia and New Zealand Banking Group . In July 2004, Lloyds TSB Group announced the sale of its business in Argentina to Banco Patagonia Sudameris S.A. and its business in Colombia to Primer Banco del Istmo, S.A. . </P>

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