Cheltenham & Gloucester plc

Gloucester United Kingdom

 

Company Description

Cheltenham & Gloucester (C&G) is a mortgage services and savings account provider with some 165 branches in the UK. The company is a division of Lloyds Banking Group, which was formed in 2009 when struggling banks Lloyds TSB and HBOS joined forces. Still beset by losses, Lloyds announced plans to close the entire C&G branch network (and cut some 1,660 jobs). Lloyds later said it would sell the mortgage unit rather than shut it down (It is in exclusive negotiations with Co-operative Group.); it will continue to offer C&G-branded services via telephone, mail, or from one of more than 1,800 Lloyds branches. C&G was established as a mutual building society in 1850 and acquired by Lloyds in 1997.