Lloyds Bank of Canada
|This article does not cite any references or sources. (December 2009)|
|Subsidiary of Lloyds Bank plc|
|Fate||Merged into HSBC Bank Canada|
|Predecessor||Continental Bank of Canada|
|Successor||HSBC Bank Canada|
|Founded||Toronto, Ontario, Canada (1986 )|
|Headquarters||Toronto, Ontario, Canada|
|Parent||Lloyds Bank plc|
Lloyds Bank of Canada was formed in 1986 when Lloyds Bank plc of the United Kingdom purchased the Continental Bank of Canada. This bank had been formed earlier in the 1980s when IAC, a financing company, decided to expand the scope of operations.
In 1990, after several years of losses, Lloyds Bank sold its Canadian operations to the Hongkong Bank of Canada, a subsidiary of London-based HSBC Holdings plc. In 1999, HBC changed its name to HSBC Bank Canada, consistent with HSBCs strategy of creating the global brand.
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