We have strengths and products from both companies - including Lloyds TSB’s prudent approach to risk and HBOS’s leading savings, mortgage and bancassurance businesses.
We have multiple brands which mean we can serve customers in terms of pricing and positioning to cover and attract more of the market. Lloyds TSB and Halifax will be our main brands in England and Wales and Bank of Scotland will be our main brand in Scotland.
We can keep our costs down and improve our services to customers because we can deliver efficiencies through shared services.
We have a distribution network that is second to none, including the largest branch network in the UK.
What’s in it for our customers, our colleagues and our shareholders?
For our customers: the combination of both organisations will help us offer the best convenience, choice and expertise.
For our colleagues: the scope and scale of our new company will provide exciting opportunities to grow and develop their career. Our people are going to be vital to making our new organisation the best it can possibly be.
For our shareholders: as we look beyond the near term, we believe the strength and size of the Group will offer significant opportunities.
Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc (members of Lloyds Banking Group), are authorised and regulated by the Financial Services Authority. FSA authorisation can be checked on the FSA’s Register at: www.fsa.gov.uk/register/home.do. Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc are members of the Financial Services Compensation Scheme and the Financial Ombudsman Service.
