Lloyds TSB will rebrand the majority of its
branches to Lloyds Bank in the next three years as it prepares to
meet a restructuring plan agreed with the European Commission.
There will be no change to Halifax or Bank of
Scotland, the other main brands operating under the Lloyds Banking
Group name on the high street.
Go deeper with GlobalData
Its branches in Scotland will operate solely
under the Bank of Scotland name.
The bank said it will carry out the transition
to the Lloyds Bank brand over the next three years to
“minimise…disruption to customers” and are cost
effective.
In November 2009, Lloyds agreed with European competition
officials that in return for its Government bail-out, it would sell
a stand-alone retail banking business with at least 600 branches, a
4.6% share of the UK personal current accounts market and up to 19%
of mortgages.
Separately, the Financial Ombudsman Service,
which settles disputes between consumers and businesses providing
financial services, said Lloyds TSB received more than a quarter of
total complaints in the six months to June 2010.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLloyds received 12,750 complaints compared to
Barclays’ 7991 (ranking second for complaints) and Bank of
Scotlands’ 6211 (third).
