| AdminHistory | The Bank of London and South America was formed in October 1923 as an amalgamation of the London and Brazilian Bank and the London and River Plate Bank. They were brought together by Lloyds Bank. The amalgamation occurred to prevent the two banks competing and pushing one of them out of business, as most of their branches were in the same cities and they were carrying out the same kind of business. Lloyds retained overall control, though it was joined by other shareholders. In 1936 the Bank took over the Anglo South American Bank, which had itself absorbed the British Bank of South America and the Commercial Bank of Spanish America. It is now a subsidiary of Lloyds Bank International. |