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Halifax (previously known as Halifax Building Society and colloquially known as The Halifax) is a British banking brand operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. It is named after the town of Halifax, West Yorkshire, where it was founded as a building society in 1853.
In 2006, HBOS secured the passing of the HBOS Group Reorganisation Act 2006 (c. i), a local act of Parliament that rationalised the bank's corporate structure. [6] The act allowed HBOS to make the Governor and Company of the Bank of Scotland a public limited company, Bank of Scotland plc, which became the principal banking subsidiary of HBOS.
The new TSB business consists of all Lloyds TSB Scotland branches, all Cheltenham and Gloucester branches, and some Lloyds TSB branches in England and Wales. [ 22 ] After a provisional agreement to sell the Lloyds TSB Scotland business to Co-operative Banking Group fell through in early 2013, Lloyds decided to divest it through a stock market ...
Lloyds Banking Group has announced plans to close 45 branches across the Lloyds, Halifax and Bank of Scotland networks. See below if your local bank is one of those impacted and what date they are ...
In October 2011, Lloyds TSB's credit rating was reduced by Moody's from Aa3 to A1. [35] The action was taken in the light of a shift in government policy to move risk from taxpayers to creditors by reducing the level of support offered to financial institutions. Lloyds TSB was the first Official Partner for the 2012 Summer Olympics in London. [36]
Lloyds Banking Group plc is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. [4]
Lloyds TSB attempted to merge with the bank in July 2001, though that was ultimately rejected by the Competition Commission. [24] Abbey also ventured into the wholesale loans business. The bank shortened its name and dropped the previous umbrella logo in 2003. At first, this provided a good profit stream, despite the criticisms of some analysts.
A number of Lloyds TSB branches in England and Wales, together with all branches of Lloyds TSB Scotland and Cheltenham & Gloucester, were brought together to form the new business, which operates under the TSB brand. [3] The remainder of the Lloyds TSB business was rebranded back to the Lloyds Bank name. [13]