Tag: HBOS

HBOS adds A?8m to Farepak distress fund

HBOS adds A?8m to Farepak distress fund

HBOS has agreed to pay an additional A?8m into a fund set up to help former customers of Farepak, who lost their savings with the company when it collapsed. HBOS increased its contribution to the compensation fund to A?10m following criticism from a High Court judge over its “hardball approach” to Farepaka��s difficulties. Mr Justice […]

July 6, 2012 More
15,000 more jobs to go at Lloyds Banking Group

15,000 more jobs to go at Lloyds Banking Group

Banking giant Lloyds is to axe a further 15,000 jobs, as part of a cost-cutting exercise and will see the bank withdraw from international banking. The job cuts were first unveiled by the Sunday Times earlier this month but have only been confirmed today. The banking giant, which is 41% owned by the taxpayer, has […]

June 30, 2011 More
Lloyds Banking Group set to axe thousands more jobs

Lloyds Banking Group set to axe thousands more jobs

According to a report in the Sunday Times, banking giant Lloyds is set to axe a further 15,000 jobs, as part of a cost-cutting exercise. The job losses are expected to be revealed at the end of this month by chief executive, Antonio Horta-Osorio, who assumed the role earlier this year after being poached from […]

June 13, 2011 More
Lloyds Banking Group announces more job losses

Lloyds Banking Group announces more job losses

Banking giant Lloyds has announced it will axe a further 360 jobs and transfer 140 members of staff to another company. The banking giant, which is 43% owned by the taxpayer, has now axed more than 27,000 jobs since its merger with HBOS at the height of the financial crisis, some of which were due […]

May 26, 2011 More
Lloyds investor group lodges claim for compensation

Lloyds investor group lodges claim for compensation

Shareholder group, Lloyds Action Now, is claiming former business secretary, Lord Peter Mandelson, withheld evidence in the build up to the merger of HBOS and Lloyds TSB. The group, which was established in 2009, claim their savings were wiped out following the controversial merger, which took place at the height of the financial crisis. The […]

March 28, 2011 More
Lloyds Banking Group to axe a further 570 jobs

Lloyds Banking Group to axe a further 570 jobs

Banking giant Lloyds has today announced it will axe a further 570 jobs and outsource more than 560 positions. The banking giant, which is 43% owned by the taxpayer, has now axed almost 27,000 jobs since its merger with HOBS, some of which were due to overlap following the merger. The latest round of job […]

March 17, 2011 More
Lloyds’ chief expected to take A?2m bonus

Lloyds’ chief expected to take A?2m bonus

January 12, 2011 More
Eric Daniels calls for Lloyds to keep HBOS

Eric Daniels calls for Lloyds to keep HBOS

Outgoing chief executive of Lloyds Banking Group, Eric Daniels, is calling on the Government to allow the bank to keep HBOS. The controversial takeover, which occurred at the height of the financial crisis, could be scrapped if a Government investigation establishes it has damaged competition. Final recommendations with regard to the takeover will be known […]

November 25, 2010 More
Lloyds provides upbeat statement

Lloyds provides upbeat statement

Lloyds Banking Group, which is 41% owned by the taxpayer, has today provided an upbeat statement as it continues its recovery from the global financial crisis. The bank, which had to be bailed out in autumn 2008, said it remains on track to deliver a “good financial performance” for 2010 as it continues with its […]

November 2, 2010 More
Lloyds shareholders in protest meeting over HBOS takeover

Lloyds shareholders in protest meeting over HBOS takeover

The group, Lloyds Action Now, has been holding protest meetings after the group claims their savings were wiped out following the Lloyds Banking Groupa��s merger with HBOS. Lloyds TSBa��s controversial takeover of HBOS took place at the height of the financial crisis and the group was renamed Lloyds Banking Group. The shareholder group, which was […]

October 24, 2010 More
Lloyds to wield the axe on thousands more jobs

Lloyds to wield the axe on thousands more jobs

Lloyds Banking Group (LBG) has today announced it will reduce headcount by 4,500 in its IT division – a move which has angered unions. The banking giant, which is 43% owned by the taxpayer, has now axed 20,000 jobs since the start of 2009, some of which were due to overlap following the banka��s takeover […]

October 13, 2010 More
Lloyds chief exec to step down

Lloyds chief exec to step down

The chief executive of Lloyds Banking Group, Eric Daniels, has announced he will retire next year. The announcement follows other leadership changes in major banks earlier this month. Barclaysa�� chief executive, John Varley, will be departing next year and will be replaced by Bob Diamond, currently president of Barclays Plc. In addition HSBC chairman, Stephen […]

September 20, 2010 More
Lloyds/HBOS merger could be scrapped

Lloyds/HBOS merger could be scrapped

According to the Daily Mail, the controversial takeover of HBOS by Lloyds could be scrapped if a Government investigation establishes it has damaged competition. The hasty takeover, which took place at the height of the financial crisis, created a banking giant but has been heavily criticised and has resulted in thousands of job losses because […]

August 9, 2010 More
Banking recovery continues as Lloyds Banking Group returns to profit

Banking recovery continues as Lloyds Banking Group returns to profit

Lloyds Banking Group, which is 41% owned by the Government, has today reported it returned to profit in the first six months of 2010, revealing profits of A?1.6 billion, against a loss of A?4 billion a year earlier. The rise in profits was primarily due to reduced writedowns with bad loans falling from A?13.4 billion […]

August 4, 2010 More
Moneynet issues warning on Lloyds TSB overdraft fees

Moneynet issues warning on Lloyds TSB overdraft fees

Lloyds TSB customers who frequently access their overdraft should seriously consider moving their current account to another bank, Moneynet.co.uk has claimed. The financial advice site made the remarks after Lloyds TSB announced a new monthly fee of A?5 for customers who use their planned or unplanned overdraft. This fee is in addition to the monthly […]

June 28, 2010 More
Lloyds shareholders could sue over HBOS takeover

Lloyds shareholders could sue over HBOS takeover

The Treasury and Lloyds senior executives could be sued over the controversial takeover of HBOS, which took place at the height of the financial crisis. An investor group called Lloyds Action Now, which was established a year ago, claimed investors were lured into voting for the takeover, while not being provided with all the relevant […]

June 7, 2010 More
Glaswegian admits to A?250k self-cert mortgage fraud

Glaswegian admits to A?250k self-cert mortgage fraud

A middle-aged Glaswegian who has been dubbed a local “gangster” has admitted to a A?250,000 mortgage fraud. Edward Lyons obtained self-cert mortgages to purchase properties in East Kilbride and Cumbernauld, claiming he was self-employed and earning up to A?48,000 a year. At the time, he was working on a community initiative and earning a salary […]

Lloyds Banking Group eyes profit in 2010

Lloyds Banking Group eyes profit in 2010

Banking giant, Lloyds Banking Group, has said it will return to profitability in 2010. Last month the bank, which is 41% owned by the taxpayer, posted a full-year loss of A?6.3 billion. It was hit by bad debts following the acquisition of HBOS, which it took over at the height of the financial crisis in […]

Lloyds posts A?6.3bn annual loss

Lloyds posts A?6.3bn annual loss

Lloyds Banking Group, which is 41% owned by the taxpayer, has today posted a full-year loss of A?6.3 billion. Lloyds is the third major UK bank to report its 2009 results. Yesterday, Royal Bank of Scotland (RBS) posted a A?3.6 billion loss, while last week, Barclays announced record profits of more than A?11 billion – […]

Lloyds axes a further 400 positions

Lloyds axes a further 400 positions

The Unite union has said Lloyds Banking Group is to axe 400 jobs as it closes its network of Black Horse home loans centres. Since its merger with HBOS in September 2008, Lloyds has axed tens of thousands of jobs due to overlap within the banking giant. In a further blow to staff, Unite said […]