Lloyds Bank, one of the four largest private banks in Britain, was established in 1765 as Taylor Lloyd & Co. It merged more than 50 banks and changed its name in 1889. It is one of the bill exchange banks in London. The banks under its control include London Bank of Montreal, Lloyds European Bank, National Bank of New Zealand, etc. Since 1972, it has been engaged in credit card business jointly with Midland Bank and National Westminster Bank. The bank has close ties with the domestic oil, steel, aircraft and shipping industries, and has a number of branches in the international arena. The head office is located in London.