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Bank accounts News - Last Updated Friday 5th December 2008 Syndicate this
Lloyds TSB confirms it will retain the Bank of Scotland and Halifax brands

Friday 5th December 2008

As the potential merger of Lloyds TSB and HBOS continues to draw ever nearer the bank has today suggested that Lloyds TSB, Bank of Scotland and Halifax will remain as separate brand names throughout the group. There had been some concern that the Lloyds TSB name will be pushed to the fore at the expense of Halifax and Bank of Scotland but this does not appear to be the case.

There is a suggestion that Bank of Scotland will be the brand name used in Scotland to attract new customers and retain those who may have been with the bank for many years. This should to some extent reduce the hostilities to Lloyds TSB from some of the Scottish business community who had seen the Scottish economy being sidelined in the future.

It will be interesting to see how the Lloyds TSB management reacts to the ongoing credit crunch and recession in the UK because between them (Lloyds TSB and HBOS) they will be receiving the largest taxpayer lump sum among any UK banks from the recent rescue package. If Lloyds TSB still refuses to pass on cost savings to customers then we could be entering a very serious problem for the future.

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