HBOS and Lloyds TSB Information
Bank of Scotland International is part of HBOS which has announced that it has agreed to be acquired by Lloyds TSB. Here are some answers to questions you may have as a customer.
Click here for up to date acquisition information.
1. What has been announced?
HBOS has agreed to be acquired by Lloyds TSB. The combined group will be one of the largest financial institutions in the banking industry. The deal is still subject to regulatory and shareholder approval.
2. Should I be worried about the safety of my savings?
No. Your money continues to be safe with Bank of Scotland International. Our parent company, HBOS, has agreed to be acquired by Lloyds TSB. We have a strong capital base.
Please see the information on the Depositors Compensation Scheme
3. Will there be any changes to my accounts?
There will be no immediate changes to your accounts as a result of this transaction. You will be able to continue using your accounts as usual. Should there be changes in future, we'll tell you about them in the usual way.
4. What happens next?
The deal is subject to regulatory and shareholder approval. Both HBOS and Lloyds TSB shareholders will vote. Lloyds TSB shareholders will vote at a General Meeting (GM). HBOS will write to its 2m shareholders seeking their approval. An HBOS shareholder meeting will also take place.
The government is supporting the deal, in the best interests of financial stability in the UK.
