Like any institution that is so interwoven with our country’s history, we must acknowledge and learn from our past. They replaced the men who had gone off to fight.Ī lot has changed during the 300 year history of our brands and while we have much within our heritage to be proud of, we can’t be proud of it all. Women were employed by the bank in large numbers for the first time, during the First World War. This meant officers returning to and from the Front could cash cheques at any time, day or night. During the First World War, its main office in Charing Cross, London, stayed open 24 hours a day. Previously known as Cox & Co., this firm served as banker to the armed forces. The second acquisition, in 1923, was that of army agency Cox’s & King’s. This was the last provincial bank in England and Wales to issue its own banknotes, which it had done continuously since 1787. In 1921, Lloyds took over the Somerset bank of Fox, Fowler & Co. This secured Lloyds' position as one of the ‘Big Five’ high street banks. Through the takeover, Lloyds gained an additional 473 branches – an increase of 53%.
In 1918, Lloyds undertook what was to be its biggest takeover until the merger with TSB, some 80 years later. It continued its domestic growth, taking over banks large and small it began its expansion overseas its workforce changed beyond recognition, with the employment of women in large numbers during the First World War and its accounting systems, largely unchanged since the 17th century, were transformed by mechanisation. The start of the 20 th century marked a period of significant change for Lloyds, on many different levels.
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