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TSB to return as UK 3rd national highstreet bank, float 2014
Comments
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opinions4u wrote: »The EU made absolutely sure that the average TSB branch had the same / better quality of customer base and loan book than those remaining with Lloyds.
Do branches really mean anything to banks any more other than in nominal terms for servicing.
My main bank account branch doesn't exist anymore it is in a"group" that equally doesn't exist. Yes I have a sort code and account number for it but I also have multiple sort codes and account numbers for probably 7/8 other accounts I hold/have held but dormant with them. Their correspondence address is a central address.
I have secondary accounts with other banks that are purely internet operations.I'm inclined to think that the EU didn't carry out thorough due diligence. The TSB includes all the Cheltenham and Gloucester branches which Lloyds Banking Group had decided to close down, -they had already fixed the closing date, until Lloyds had to be propped up with government funds.
If the C & G branches had a good quality of customer base and loan book then Lloyds would never have wanted to get rid of them; they could have just converted them all to LloydsTSB branches. As it is, when the EU ordered Lloyds to sell off a percentage of its business Lloyds used it as an opportunity to get rid of branches that it already wanted to close anyway.
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They may have wanted to close down the physical branches to save operational cost the accounts would still have been held and operated centrally or through remaining branches for customer servicing.
I wouldn't be surprised if the good prospects haven't been hoovered up into "premier" / "business" banking units well out of reach.grey_gym_sock wrote: »
maybe some of them, or the supermarkets' banks, will become more significant, but this is just speculation.
Who provides the banking operation for the supermarkets. Aren't they (the supermarkets) simply a veneer. M&S is essentially HSBC??"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Thrugelmir wrote: »Lloyds was a perfectly good bank until the HBOS saga.
They were all perfectly good banks and building societies before they started being deregulated."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Banks already do this. I was told over a year ago to drop my friends at other banks.
The idea that we are immune from rules or consequences is just so far from the truth nowadays. We've even lost our right to silence under questioning on matters relating to certain financial crimes, rights that even accused murderers still have.
I can partly understand it at HO strategic level and the sort of role you perform but not at the operational branch level.
I take it the executives don't socialise in anyway with their opposites in other institutions either then."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Who provides the banking operation for the supermarkets. Aren't they (the supermarkets) simply a veneer. M&S is essentially HSBC??
M&S is really HSBC, using the M&S name under licence.
tesco was a joint venture with RBS, but tesco bought out RBS, so now own the whole thing.
similarly, sainsbury was a joint venture with lloyds, but now sainsbury own it 100%.
so at least 2 of them are not just white labels for the same old banks. if not quite quite the same range of services as the major banks.0 -
Blind stupidity.One has to wonder how on earth Lloyds came to take HBOS on in the first place? How could LLoyds not have been aware of the state of HBOS? Nobody has ever explained that fully.
Chasing the retail bank without realising the extent of disaster in the commercial arm.0 -
The way LloydsTSB underinvested in C&G branches for nearly 20 years was a travesty of management. Failing to sell more than savings, mortgages and insurances through them cost personal banking market share that was there for the taking.If the C & G branches had a good quality of customer base and loan book then Lloyds would never have wanted to get rid of them; they could have just converted them all to LloydsTSB branches.
The biggest issue facing C&G branches is a very old, but very wealthy, customer base.
If you want a queue free branch with a more personal service, become a customer of the old C&G!
IF, despite its excellent staff, is a flawed business that will, most likely, get wound down.The Verde sale also originally included Intelligent Finance, another dud brand, until the Co-op said they didn't want it.0 -
Thrugelmir wrote: »Lloyds was a perfectly good bank until the HBOS saga.
Lloyds TSB's retail part hasn't been particularly profitably for a long time.
Whereas HBOS's continues to be very profitable.
The HBOS merger messed up their balance sheet, but did a huge amount for improving Lloyds' retail products - i.e. the accounts that you and I hold.0 -
They'll make a profit on Hbos eventually just from all the customers gained. Mortgages are profitable business but funding was more troublesome.
C&G was being merged to reduce costs, they werent going to sign away the custom but now they will
Also either set of customers can use any branch for many months, hence not a big change just yetMSE wrote:But embarrassingly for the group, TSB, Lloyds Bank and Halifax customers were unable to login to their online banking for a period of time this morning following the sheer volume of traffic to the sites0 -
Originally Posted by Steve_xx View Post
One has to wonder how on earth Lloyds came to take HBOS on in the first place? How could LLoyds not have been aware of the state of HBOS? Nobody has ever explained that fully.opinions4u wrote: »Blind stupidity.
Chasing the retail bank without realising the extent of disaster in the commercial arm.
Not sure you can blame Lloyds for this Brown PM at the time basically went cap in hand to his mates at the time running Lloyds and begged them to take HBOS over , dont forget that only a few months previously Lloyds had looked at a possible takeover but been told it would be subject to a monopolies commision once the crisis hit that went out the window . Me thinks Lloyds shareholders were royally stuffed in the process .0 -
Originally Posted by Steve_xx View Post
One has to wonder how on earth Lloyds came to take HBOS on in the first place? How could LLoyds not have been aware of the state of HBOS? Nobody has ever explained that fully.
Not sure you can blame Lloyds for this Brown PM at the time basically went cap in hand to his mates at the time running Lloyds and begged them to take HBOS over , dont forget that only a few months previously Lloyds had looked at a possible takeover but been told it would be subject to a monopolies commision once the crisis hit that went out the window . Me thinks Lloyds shareholders were royally stuffed in the process .
Well yes, I think you can blame LLoyds. If their board knew about the looming debacle with HBOS then they had a duty to their shareholders not to jeopodise the bank in the way that it was.
To my mind, there are a lot of unanswered questions about this. I can't understand how it has been allowed to be swept under the carpet like it has. I'm sure that one day the skeletons on this one will come out of the cupboard. and once again. nobody at the top will pay the price, I suspect.0
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