Lloyds agrees branch deal with Co-op

Lloyds Banking Group to press ahead with a sale of 632 branches to the Co-operative Bank after it rejected a rival offer from NBNKLloyds Banking Group agreed on Wednesday to press ahead with a sale of 632 branches to the Co-operative Bank after it rejected a rival offer from the private equity start-up NBNK.Lloyds said […]
Continue reading…

Enjoyed this post? Share it!

 
 

Lloyds suitor loses £23m but pays boss nearly £1m

NBNK, which is wants to buy 632 branches from Lloyds Banking Group, lost £23m last year and paid chief executive Gary Hoffman £910,300The bid vehicle attempting to buy 632 branches from Lloyds Banking Group lost £23m last year as it failed to buy Northern Rock and Australian-owned Clydesdale and Yorkshire banks.As it reported the deepening […]
Continue reading…

Enjoyed this post? Share it!

 
 

Australian owner axes 1,400 jobs at Yorkshire and Clydesdale banks

Unite says announcement by National Australia Bank ‘in middle of night’ meant UK staff ‘woke up to hear their jobs are being cut through morning news reports’Union officials have reacted furiously to news of 1,400 job cuts at Yorkshire and Clydesdale banks after the Australian owner of the loss-making operations announced a major restructuring.Cameron Clyne, […]
Continue reading…

Enjoyed this post? Share it!

 
 

Santander to close bank branches to reduce overlap

Spanish bank cuts 56 branches after bank takeovers leave it with 1,200 branches on 773 high streetsSantander is to close 56 branches to reduce the overlap in its UK banking network that has been created through the takeovers of Abbey National, Alliance & Leicester and Bradford & Bingley.The closures have begun even as the Spanish […]
Continue reading…

Enjoyed this post? Share it!

 
 

Lloyds deal to sell 632 bank branches to Co-op delayed

Regulator said to be in robust discussion with mutual over its capacity to cope with such a major acquisitionA “highly complex” deal to sell 632 Lloyds Banking Group branches to the Co-operative Group is facing delay as the Financial Services Authority seeks assurances about the capacity of the mutual to embark upon such a major […]
Continue reading…

Enjoyed this post? Share it!