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Halifax will be key brand in merger
THE Halifax will continue to be a familiar high street landmark when the bank is taken over, Lloyds TSB announced today.
The brand and retail branch network will operate alongside Lloyds TSB in England and Wales, according to Helen Weir, Lloyds group executive director, who is in charge of the company's retail banking sector.
"Halifax is a very strong brand and will play a key role in the combined group - its reputation for mortgages and savings in particular is second to none.
"Lloyds Banking Group will have the largest branch network in the United Kingdom which means we will be able to provide an even higher level of service to our customers," she said.
Lloyds shareholders have already backed the takeover and HBOS shareholders will vote in Birmingham next week.
Bank of Scotland will be the banking brand used for retail and corporate business for the combined group in Scotland and the Lloyds Banking Group will also have the largest branch network in Scotland.
The integration of Bank of Scotland and Lloyds TSB Scotland's banking businesses will extend over a two to three year period.
A detailed review of the new group's portfolio of brands, including the size and shape of the branch network, is underway but will not be completed for some time.
Until then, there will be no change to any of the current brands, branches or staff, said Lloyds - Halifax, Bank of Scotland and Lloyds TSB will all continue to operate on the high street once the acquisition is completed.
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Saturday 11 February 2012
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