shareholders owning a 70% equity interest in the share capital, effected through a scheme of arrangement. The new bank commenced trading in 1999, after the statutory process of integration was completed. On 28 June, TSB Bank plc transferred engagements to Lloyds Bank plc which then changed its name to Lloyds TSB Bank plc; at the same time, TSB Bank Scotland plc absorbed Lloyds' three Scottish branches becoming Lloyds TSB Scotland plc. The combined business formed the largest bank in the UK by market share and the second-largest to Midland Bank (now HSBC) by market capitalisation. Revival of the TSB brand Following its acquisition of HBOS in January 2009, Lloyds TSB Group was renamed Lloyds Banking Group. In 2009, following the UK bank rescue package, HM Government took a 43.4% stake in Lloyds Banking Group, which later announced that, in order to comply with European Union state aid requirements, it would spin off a part of its business under the TSB brand. The new TSB business consists of all Lloyds TSB Scotland branches, all Cheltenham and Gloucester branches, and some Lloyds TSB branches in England and Wales. After a provisional agreement to sell the Lloyds TSB Scotland business to Co-operative Banking Group fell through in early 2013, Lloyds decided to divest it through a stock market flotation. The new TSB Bank began operations on 9 September 2013, at which time the remainder of Lloyds TSB was renamed to Lloyds Bank. See also Allied Irish Banks (Northern Ireland) Permanent TSB (Republic of Ireland) Aberdeen Savings Bank Airdrie Savings Bank Birmingham Municipal Bank Edinburgh Savings Bank Glasgow Savings Bank Liverpool Savings Bank London Savings Bank Manchester Savings Bank Perth Savings Bank Ruthwell Savings Bank St Martin's Place Savings Bank Sheffield Savings Bank Stockport Savings Bank West Midland Savings Bank York County Savings Bank Yorkshire Bank References Bibliography Bátiz-Lazo, B. (2004). "Strategic Alliances and Competitive Edge: Insights from Spanish and UK Banking Histories." Business History 46(1): 23-56 Bátiz-Lazo, B. and Boyns, T. (2003). " Automation and Management Accounting in British Manufacturing and Retail Financial Services, 1945-68." Information Systems and Technology in Organisations and Society, Universitat Pompeu Fabra, Barcelona Bátiz-Lazo, B. and Del Angel, G. (2003). "Competitive Collaboration and Market Contestability: Cases in Mexican and UK banking (1945-75)." Accounting, Business and Financial History 13(3): 1-30 English, L. (1972). A competitive industry's move to expand clientele. The Times. London: 11. Horne, H. O. (1947). A History