Iconic British banking brand Lloyds has formally extended its presence in Australia by becoming licensed as an authorised deposit-taking institution (ADI).
Lloyds TSB Bank announced today that it had launched an Australian branch after gaining regulatory approvals and licensing from the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority to become an ADI.
The bank will trade under the name Lloyds TSB Corporate Markets and will provide future funding, liquidity and derivatives requirements for a number of Lloyds Banking group companies already in Australia, including BOS International (Australia) Limited and Capital Finance Australia Limited.
