Lloyds TSB sell off to TSB... "It's your choice.."

JuicyJesus

Heng_Leng wrote: »

As I understand it, the Commission's requirements were they sold either BOS or LTSB Scotland plus a % of accounts in GB.

It was LBG who decided what to sell to achieve the above not the European Commission.

Indeed, but that's not what's in dispute. If you're in the percentage of whatever accounts they opted to sell, they're not allowed to canvass for the business or encourage you to stay. As above, presumably they have interpreted this as in making the process of not being moved a pain in the nadgers.

HereToHelp_2

I am considering opening a new current account and was looking at the Clydesdale Bank but it looks like Santander are likely to put in a bid for them. I obviously do not want to become one of their customers no matter what name they have above the door.

Does anyone know the date for the final transfer from Lloyds TSB Scotland as part of the LBG to the new TSB Bank Plc? I understood it was to be sometime next month. A mixture of not needing a branch and the nostalgia of "the bank that likes to say YES", have me wondering if this might be a better idea. Although, who is to say who will buy the shares put out under the IPO, knowing my luck it will be Santander!!!

Thrugelmir

HereToHelp wrote: »

I am considering opening a new current account and was looking at the Clydesdale Bank but it looks like Santander are likely to put in a bid for them.

Old news with no foundation. Santander pulled out of a purchase of 300 RBS branches a while back too.

The situation in Spain is a drain on their capital reserves. So Santanders current aim in the UK is to be more profitable by being more focussed. More business lending and less but higher margin retail business (mortgages).