Why does lloyds have a black horse

With years of helping the people of Britain under their belt, we had quite a bit of history to choose from for this post. Sampson, also a prominent Quaker, originally followed his father into the iron trade.

John Taylor was a Unitarian and a cabinet maker, who was also well-known for his exquisite snuff boxes. Upon founding the bank, the men left their previous occupations and concentrated entirely on the new venture. Bringing with it more than 2, Post Office savings banks within a year, many of these were in direct competition with existing trustee savings banks. Within ten years, more than Lloyds TSB branches had been forced to close with the remaining branches surviving due to the additional benefits they offered depositors.

TSBs paid more interest on savings, and it was easier to make withdrawals. Moreover, their staff were specialists, whereas Post Office officials had many other duties to perform. Lloyds had only opened its first branch the previous year. However, serious expansion was just around the corner.

This resulted in a period of unprecedented expansion. Over the next 50 years, Lloyds took over more than 50 competitors. For the first time, married women were allowed to keep their own savings. Prior to this, any money that a woman held upon marriage, automatically became the property of her husband. Unlike the commercial banks, savings banks had always attracted female savers in large numbers.

With the passing of the Act, the demand for savings accounts was even greater. Lloyds Bank inherited the famous black horse symbol in The first recorded use of the black horse sign was in , at Lombard Street in the City of London. In the 17th Century, there were no street numbers, and so businesses used decorative signs to attract customers.

The signs also provided a means of identification in a largely illiterate society. The black horse sign originally hung above the establishment of goldsmith Humphrey Stokes. By it was being used by another Lombard Street goldsmith, John Bland.

The Bank's first symbol, the beehive which represented thrift and industry , continued to be used alongside the black horse until the early 20th century. It still appears on some bank buildings. Major fraud rocks the savings bank movement Not surprisingly, the crisis escalated, and the whole savings banks movement came under scrutiny, from both the press and the public.

In the wake of the scandal, the TSB Association was set up, partly to ensure any future crises were properly managed. We understand there are good things and bad things in the world. Following a break, Lloyds brought back the black horse last June to celebrate its th anniversary in a campaign that spanned historic events such as World War 1.

Bringing the horse back shows we are proud of our heritage. Why would you be ashamed of fully utilising an iconic British brand? Lloyds, much like its rivals in the banking sector, is no stranger to controversy following the global financial crisis. And according to YouGov BrandIndex, its Index ranking, which is measures consumer perception of metrics including quality, value and reputation, has risen by a statistically significant rate over the last year.

It declinded 2. Our marketing is all about building trust again. Increasing competition from the financial technology sector, also know as fintech, is prompting large financial institutions to seek out new partnerships and collaborations.

Whilst agreeing the black horse is iconic and a good one, agreeing it is good not to sugar coat, unfortunately anyone who knows the lyrics of the chosen piece of music will ultimately probably feel depressed. A different tune may be a good idea? You must be logged in to post a comment. At the end of every week I look at the key stories, offering my view on what they mean for you and the industry.