London Trustee Savings Bank records

Scope and Content

Management and publicity records of the London Trustee Savings Bank.

Administrative / Biographical History

London Savings Bank was formed in 1916 by amalgamation with Lambeth Savings Bank (1818), London Provident Institution (1816) and Bloomsbury Savings Bank (1817). The following year, Brighton Savings Bank merged with the London Savings Bank. However, in 1920 after extensive deliberations Brighton seceded and joined the Midhurst Savings bank.

After a meeting held in 1919 at which amalgamation was strongly recommended. The Southampton and Guildford Savings Banks needed little encouragement and joined the London Savings Bank the very next day.

In April 1933, the London Savings Bank appointed a 'Thrift Missionary' to assist in making the work of the bank better known in London. Mrs Chafy was appointed to develop a plan that included visits to schools and firms and the organisation of publicity at exhibitions.

On 21 November 1941 Luton and District Trustee Savings Bank amalgamated with the London Savings Bank.

On 21 May 1942 after long negotiations the National Debt Commissioners consented to the amalgamation of the only two surviving savings banks in the Metropolis, the Finsbury and City of London Savings Bank and the London Savings Bank, which merged under the title of The London Trustee Savings Bank.

The London Trustee Savings Bank opened a new branch on May 27 at 14 London Road, Twickenham. This was the fortieth office of the bank. In addition, the City and Bedford offices of the bank celebrated the passing of the million pounds of deposits. Twelve offices of the London Bank had deposits exceeding that figure.

On the 19 January 1951 the Lord Mayor of London opened the new head office of the London Savings Bank, of which he was President, at 34 Cannon Street and 84 Queen Street. In 1955 the head office function was transferred to Fleet Street.

On 22 November 1971 a new bank was formed by the amalgamation of the London Trustee Savings Bank and the South Eastern Trustees Savings Bank. The new head office was at 7-14 Fleet Street, London . The new bank had 123 offices and funds exceeding £250 million. The title of the new organisation was the London and South Eastern Savings Bank. This, as a consequence of a company restructure in 1975, became a part of TSB of South East.

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