Lloyds Banking Group

The new Lloyds Banking Group
You may be aware that Bank of Scotland is part of HBOS plc.  HBOS has been acquired by Lloyds TSB.

In joining together HBOS and Lloyds TSB, we have created a new group company Lloyds Banking Group.

Bank of Scotland will continue to exist and operate as a separate company within this Group.

Over time, the Bank of Scotland and Lloyds TSB Scotland businesses will be integrated, and Bank of Scotland will become our main high street brand in Scotland for personal and business customers.

Please be assured that there will be no changes to your accounts and you can continue doing business with us as usual. 

How will this change benefit me?
The combining of HBOS and Lloyds TSB creates a new group which is well capitalised and financially strong.  This strength places us in an even better position to meet the challenges of the current financial climate and any future challenges we may face.

Our aim is to be the leading financial services organisation in the UK, using our strength and size to provide excellent customer service and create great value products for our customers.

What does it mean for me?
There are no changes to your Bank of Scotland accounts or the terms and conditions of any of our products or services, and you can continue doing business with us exactly as you always have, in branch, by phone or online.

If you have a Halifax mortgage or savings account you can continue to service these at Bank of Scotland branches as you do now.

Of course from time to time we make changes to our products, and when that happens we will notify you in our usual way.

What does this mean for Bank of Scotland?
Bank of Scotland was founded in 1695 and will continue to exist as a separate company.  Over time, the Bank of Scotland and Lloyds TSB Scotland businesses will be integrated and Bank of Scotland will become our main high street brand in Scotland for personal and business customers.

Our historic headquarters in The Mound will be the Scottish headquarters for the new group.

We were the first bank in Europe to issue bank notes and we will continue to issue Bank of Scotland notes in future.

Are my savings protected?
Yes, your savings remain protected exactly as they were before.  Bank of Scotland, Lloyds TSB Scotland and Lloyds TSB savings continue to be covered separately under the Financial Services Compensation Scheme, as all three organisations continue to be covered by separate banking licences.

Should there be any changes to our banking licences in future, we will contact you to tell you about them in the usual way.

Any regulated investments you hold with either company will also be protected exactly as before under the scheme.

More information on the Financial Services Compensation Scheme and full details of the companies covered by the different banking licences is available on request or on our  Financial Services Compensation Scheme page.

I have accounts at Bank of Scotland and Lloyds TSB Scotland, can I do anything differently?
For the immediate future, Bank of Scotland and Lloyds TSB Scotland will continue to operate separately with different branches, phone numbers and online systems.  You should continue to do business with each bank just as you've always done.

As the integration of the two businesses progresses, we will keep you informed of any changes that might impact you.

Additional information
Should there be any changes in the future, we will contact you to tell you about them in the usual way.