Lloyds TSB Foundation for Scotland

Lloyds TSB Foundation for Scotland has won their court action against Lloyds Banking Group, with the bank ordered to pay the TSB foundation £3.5 million pounds, their share of profits made by the Group in 2010. It also means the foundation is due a payment of £1.75 for profits made in 2011. The TSB Foundation had raised an action in the Court of Session against the Lloyds Banking Group, in a dispute about the TSB’s Foundation’s share of Lloyds TSB’s profits, with the bank claiming the Foundation were only due £38,920.   The court’s decision is extremely welcome as the TSB Foundation is a valued supporter of smaller charities throughout Scotland. The money the charity will receive will be used to help the foundation carry on with their work supporting charities throughout Scotland which are clearly focused on improving the lives of people who are disadvantaged or at risk of becoming so. For more information on Lloyds TSB Foundation and the grants the offer visit: www.ltsbfoundationforscotland.org.uk