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Hbos - Thank You And Goodbye

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The EU has told Lloyds that it cannot remain at the size that is currently is. The bailout means it is not in immediate danger of going bust, but the competition bods in Brussels probably dont want to see a mega bank go bust as they cant afford to pick up the pieces.

The Lloyds - HBOS wasnt a merger, it was a takeover and in a takeover, it is usual for all of assets to be sold off bit by bit to bolster the strength of the company as a whole.

In the case of Lloyds HBOS is there any need for 2 branches on every high street, of course not, so they will probably start with Halifax branch closures and Bank of Scotland branch closures. Those high streets that only have a Halifax, will be turned in Lloyds branches, with their staff retained. Those high streets where Halifax branches are bigger and better located will also be rebranded.

I once heard of a company involved in Bearings that made everyone apply for their jobs again, so they could re-organise the company with the minimum of costs, it also gave some people the hump and they just left, which made life easier.

Lloyds has a lot of business customers, so it will probably want to keep the Bank of Scotland in Scotland and call it Lloyds Bank of Scotland or something but the Halifax is toast.

It has lived off the fat off the land, got itself over leveraged and has finally come unstuck.

Well I guess that just too bad.

Thank you Halifax / HBOS and Goodbye

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