Lloyds Bank of Canada was formed in 1986 when Lloyds Bank Plc purchased the Continental Bank of Canada. This bank had been formed earlier in the 1980s when IAC, a financing company, decided to expand the scope of operations. In 1990, after several years of losses, Lloyds Bank sold its Canadian operations to the Hongkong Bank of Canada, a subsidiary of HSBC Holdings Plc.
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