Lloyds confirms it will drop TSB

LLOYDS Banking Group yesterday confirmed plans to rebrand its retail banking business, including the dropping of the historic TSB name.

The move, first announced last November when Lloyds agreed its restructuring plan with the European Commission, will see the retail operation renamed Lloyds Bank over the next three years.

There will be no change to the Halifax or Bank of Scotland brands. Lloyds Bank Corporate Markets will be the first division of the bank to operate under the new branding, with the others to follow in 2012.