Lloyds TSB, one of the leading players in the UK banking and insurance industry faces many risks. These include Strategy risks, Change Management risks, Product and Service risks, Customer treatment risks, Operational risks, Legal risks, Regulatory risks, Credit risks, Market risks, Insurance risks and Financial risks. The case outlines the risks and the mechanisms Lloyds TSB employs to deal with these risks.

_Lloyds TSB ¹, one of the leading players in the UK banking and insurance industry is involved in various businesses-retail and commercial banking, account management services for businesses and private individuals, debit cards, asset management, and even mortgage loans. It is also a leader in the field of insurance. Lloyds TSB is renowned throughout the world for insuring a wide range of risks, even the most unusual ones. With over 2,500 branches, Lloyds expanded globally and has locations throughout the world. International business comprised nearly 20% of the bank's total revenue. To strengthen its competitive position, Lloyds TSB expanded its asset management services, repositioned existing insurance, pension, and savings products, and reduced its workforce. In 2002, Lloyds TSB recorded sales of £8,878 mn and a net income of £1,781 mn.

In 1765, John Taylor and Sampson Lloyd II founded Taylors and Lloyds bank in Birmingham, England. In 1852, the last Taylor involved with the bank died. In 1865, the bank converted to joint stock form and became Lloyds Banking Company Ltd. Over the next 50 years, it grew by merging with some 50 banks, becoming one of England's largest banks by the turn of the century.

Lloyds TSB, UK, banking, insurance industry, risks, Strategy risks, Change Management risks, Product and Service risks, Customer treatment risks, Operational risks, Legal risks, Regulatory risks, Credit risks, Market risks, Insurance risks and Financial risks, bank's total revenue, insurance, pension, and savings products, International business, account management services.