A sign of Lloyds TSB bank, left, is seen at a branch in central London.(AP Photo/Sang Tan)
A sign of Lloyds TSB bank, left, is seen at a branch in central London.(AP Photo/Sang Tan)
A sign of Lloyds TSB bank, left, is seen at a branch in central London.(AP Photo/Sang Tan)
A sign of Lloyds TSB bank, left, is seen at a branch in central London.(AP Photo/Sang Tan)

Business

Lloyds and HBOS in merger talks

HBOS, the group created by the merger of Halifax and Bank of Scotland, is in merger talks with the British bank Lloyds.

Add as a preferred source on Google
  • Play/Pause English
  • Play/Pause Arabic
Bookmark

LONDON // British bank Lloyds is in merger talks with UK mortgage lender HBOS, sources said today. "Lloyds is in advanced talks to acquire HBOS to create a multibillion pound banking giant," a BBC report said. HBOS, the group created by the merger of Halifax and Bank of Scotland, is Britain's largest savings group. However, its shares have collapsed in recent days as investors have dumped the stock in droves, fearing the company might be overexposed amid the current credit crisis.

* Reuters

BankingTechnologyMarkets