Lloyds TSB intends to keep the Bank of Scotland brand if its planned takeover of HBOS goes through in January, it has been announced.
Lloyds TSB intends to keep the Bank of Scotland brand if its planned takeover of HBOS goes through in January, it has been announced.
The combined group would use the name Bank of Scotland for its retail and corporate business in Scotland.
The combined group would use the name Bank of Scotland for its retail and corporate business in Scotland.
The present HBOS head office on the Mound in Edinburgh is to become the Scottish headquarters for the Lloyds Banking Group.
The present HBOS head office on the Mound in Edinburgh is to become the Scottish headquarters for the Lloyds Banking Group.
Lloyds Banking Group would have the largest branch network in Scotland.
Lloyds Banking Group would have the largest branch network in Scotland.
The Halifax brand and retail branch network will continue to operate alongside Lloyds TSB in England and Wales.
The Halifax brand and retail branch network will continue to operate alongside Lloyds TSB in England and Wales.
Bank of Scotland is an iconic brand which we look forward to developing even more in the years to come Archie KaneLloyds TSB Group No decision has yet been taken about the use of the Bank of Scotland Corporate brand outside Scotland.
Bank of Scotland is an iconic brand which we look forward to developing even more in the years to come Archie KaneLloyds TSB Group No decision has yet been taken about the use of the Bank of Scotland Corporate brand outside Scotland.
Lloyds TSB said the integration process would extend over a two to three year period, once the proposed acquisition completes in January 2009, after which time Lloyds TSB Scotland and Halifax would not be used as banking brands in Scotland.
Lloyds TSB said the integration process would extend over a two to three year period, once the proposed acquisition completes in January 2009, after which time Lloyds TSB Scotland and Halifax would not be used as banking brands in Scotland.
On the Mound, a Scottish Executive Committee would be created to represent retail banking activities, wholesale, insurance and wealth and international divisions of the Lloyds Banking Group.
On the Mound, a Scottish Executive Committee would be created to represent retail banking activities, wholesale, insurance and wealth and international divisions of the Lloyds Banking Group.
Archie Kane, who will represent the Lloyds Banking Group in Scotland, said: "The combined group will have a very strong presence in Scotland.
Archie Kane, who will represent the Lloyds Banking Group in Scotland, said: "The combined group will have a very strong presence in Scotland.
"Bank of Scotland is an iconic brand which we look forward to developing even more in the years to come. We are also very focused on integrating Bank of Scotland and Lloyds TSB Scotland businesses over the next two to three years.
"Bank of Scotland is an iconic brand which we look forward to developing even more in the years to come. We are also very focused on integrating Bank of Scotland and Lloyds TSB Scotland businesses over the next two to three years.
"Lloyds Banking Group will have the largest branch network in Scotland which means we will be able to provide an even higher level of service to our customers."
"Lloyds Banking Group will have the largest branch network in Scotland which means we will be able to provide an even higher level of service to our customers."
An HBOS spokesman said: "We welcome today's decision about Bank of Scotland. We believe the multi-branding approach Lloyds TSB has adopted is the right one."
An HBOS spokesman said: "We welcome today's decision about Bank of Scotland. We believe the multi-branding approach Lloyds TSB has adopted is the right one."
Lloyds TSB said a detailed review of the new group's proposed branch network was currently being undertaken and this would not be completed for some time.
Lloyds TSB said a detailed review of the new group's proposed branch network was currently being undertaken and this would not be completed for some time.
The group said that there would be no change to the current brands, branches or staffing levels until that review was completed.
The group said that there would be no change to the current brands, branches or staffing levels until that review was completed.
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