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19/07/2012
Co-op Buys Lloyds Bank Branches
Terms have been agreed for the Co-op to buy 632 branches of Lloyds TSB and Cheltenham and Gloucester.
The Co-operative Group will pay Lloyds Banking Group £350m upfront and up to an additional £400m based on the performance of the combined business.
European regulators demanded the sale after Lloyds bought HBOS during the financial crisis.
The Co-op will take over the branches, which represent 6% of the UK market, including their 4.8 million customers.
The takeover will bring the Co-op's total branches to almost 1,000 and will increase its share of UK personal current account customers from 1% to 7%.
After buying HBOS, Lloyds then needed a government bailout, and is still 40%-owned by the taxpayer.
(H)
The Co-operative Group will pay Lloyds Banking Group £350m upfront and up to an additional £400m based on the performance of the combined business.
European regulators demanded the sale after Lloyds bought HBOS during the financial crisis.
The Co-op will take over the branches, which represent 6% of the UK market, including their 4.8 million customers.
The takeover will bring the Co-op's total branches to almost 1,000 and will increase its share of UK personal current account customers from 1% to 7%.
After buying HBOS, Lloyds then needed a government bailout, and is still 40%-owned by the taxpayer.
(H)
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24 April 2013
Co-op Bank Purchase Falls Through
A Llyods Banking Group sale of 632 bank branches to the Co-op group has fallen through. It had been hoped that by buying the branches the Co-op would create a bigger competitor to the main high street banks. However, the continued economic downturn and tougher regulatory environment imposed on banks has been blamed for the collapse of the sale.
Co-op Bank Purchase Falls Through
A Llyods Banking Group sale of 632 bank branches to the Co-op group has fallen through. It had been hoped that by buying the branches the Co-op would create a bigger competitor to the main high street banks. However, the continued economic downturn and tougher regulatory environment imposed on banks has been blamed for the collapse of the sale.
11 December 2013
Lloyds Bank Fined A Record £28m
Lloyds Banking Group has been fined a record £28m for "serious failings" in relation to its bonus schemes for sales staff. The Financial Conduct Authority (FCA), which issued the fine, said it is the largest fine it or the former Financial Services Authority (FSA) had imposed for retail conduct failings.
Lloyds Bank Fined A Record £28m
Lloyds Banking Group has been fined a record £28m for "serious failings" in relation to its bonus schemes for sales staff. The Financial Conduct Authority (FCA), which issued the fine, said it is the largest fine it or the former Financial Services Authority (FSA) had imposed for retail conduct failings.
10 May 2013
Co-op Bank Downgraded By Moody's
The debt rating for the Co-operative Bank has been downgraded by ratings agency Moody's. The downgrade comes after the Co-op said last month that it was no longer pursing a deal to purchase 632 branches of Lloyds Banking Group. At the time, the bank said it withdrew from negotiations due to negative economic forecasts.
Co-op Bank Downgraded By Moody's
The debt rating for the Co-operative Bank has been downgraded by ratings agency Moody's. The downgrade comes after the Co-op said last month that it was no longer pursing a deal to purchase 632 branches of Lloyds Banking Group. At the time, the bank said it withdrew from negotiations due to negative economic forecasts.
23 September 2008
Salmond To Press Over Lloyds HBOS
A specially convened summit of Scottish politicians and business leaders, who earlier agreed a "national statement of concern" about the takeover of the Scottish-based banking group, HBOS, are now to be joined by First Minister Alex Salmond (pictured) in a meeting with executives from Lloyds TSB to discuss the bank's planned takeover.
Salmond To Press Over Lloyds HBOS
A specially convened summit of Scottish politicians and business leaders, who earlier agreed a "national statement of concern" about the takeover of the Scottish-based banking group, HBOS, are now to be joined by First Minister Alex Salmond (pictured) in a meeting with executives from Lloyds TSB to discuss the bank's planned takeover.
28 July 2014
FCA Fines Lloyds Banking Group £105m
Lloyds Banking Group has been fined £105m for serious misconduct relating to the Special Liquidity Scheme (SLS), the Repo Rate benchmark and the London Interbank Offered Rate (LIBOR).
FCA Fines Lloyds Banking Group £105m
Lloyds Banking Group has been fined £105m for serious misconduct relating to the Special Liquidity Scheme (SLS), the Repo Rate benchmark and the London Interbank Offered Rate (LIBOR).
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