What happened to the Cheltenham and Gloucester Building Society?
What happened to the Cheltenham and Gloucester Building Society?
C&G was closed to new mortgage and savings business on 9 September 2013. The branch network of Cheltenham & Gloucester was transferred to the newly established TSB Bank plc in September 2013, as part of a divestment of a significant portion of the Lloyds TSB business by Lloyds Banking Group.
When did TSB take over Cheltenham and Gloucester?
2013
TSB acquired the branch network of the Cheltenham and Gloucester Building Society in 2013. Later that year, TSB decided to operate separately from Lloyds and floated as TSB Banking Group PLC, Two years later it was taken over by the Spanish banking group Sabadell of more than £1.7billion.
Does Lloyds own Halifax?
Halifax (previously known as Halifax Building Society and colloquially known as The Halifax) is a British banking brand operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group….Halifax (bank)
| The Halifax Building | |
|---|---|
| Parent | Bank of Scotland plc |
| Website | www.halifax.co.uk |
Is it worth saving with Cheltenham and Gloucester Building Society?
If you like the idea of seeing savings stack up without paying any tax on the interest earned, it may be worth considering saving with Cheltenham and Gloucester Building Society – now part of Lloyds TSB. Cash ISAs are tax-effective and will help you save for major purchases, or simply for a rainy day.
What does Cheltenham & Gloucester plc do?
Cheltenham & Gloucester plc (C&G) was a mortgage and savings provider in the United Kingdom, a subsidiary of Lloyds Banking Group. C&G specialises in mortgages and savings products. Previously, C&G was a building society, the Cheltenham and Gloucester Building Society.
What happened to Cheltenham & Gloucester?
The lender for C&G mortgages also changed to Lloyds TSB Bank plc, whilst Cheltenham & Gloucester plc remained in charge of designing and administering the mortgages. On 9 June 2009, it was reported that Lloyds Banking Group would close Cheltenham & Gloucester’s 164 branches in November of that year, at the cost of around 1,660 jobs.
What happened to Cheltenham & Gloucester Branch of Lloyds Bank?
Lloyds Banking Group confirmed that the rebranding to TSB would still take place. The new TSB Bank was launched on 9 September 2013 and all Cheltenham & Gloucester branches were rebranded TSB on this date. The new bank was divested from Lloyds Banking Group in 2014 through a stock market flotation, and was acquired by Sabadell Group in July 2015.
