TSB to return as UK 3rd national highstreet bank, float 2014

Thrugelmir

rb10 wrote: »

Lloyds TSB's retail part hasn't been particularly profitably for a long time.

Whereas HBOS's continues to be very profitable.

Took Lloyds 7 months post merger to review HBOS's mortgage book. The outcome not unsurprisingly was negative. Like Northern Rock and Bradford & Bingley sensible lending policy had been thrown out the window. Hence the reason that Lloyds maintained higher mortgage interest rates on HBOS's mortgage book.

Archi_Bald

helptoyou wrote: »

Not sure you can blame Lloyds for this Brown PM at the time basically went cap in hand to his mates at the time

Agree, this wasn't a choice decision by Lloyds. And I think it was more like Gordon-calling-in-a-favour-or-two than Gordon-cap-in-hand.

Still, even though I may not totally agree with what 'they' did at at the time, I am somewhat impressed how Alisdair (a lot more than Gordon) handled the situation. It could have been a lot more disastrous than it ended up with. Shame Gordon f*cked it all up for the Labour Party with terrible faux-pas during the election campaign. Shame also that the heads of the 2 Eds occupy more space than their combined brains can fill, and that their egos won't allow for Alisdair, who will have both of them for breakfast any day of the week (in a totally non-sexual way, lol).

I like the idea of Cameron as PM and Darling as Chancellor. It will never happen, of course. Or will it. Britain, and its politicians, should be ready for any kind of coalition. Just nobody called Ed, please.

sabretoothtigger

I'd love to blame Gordon but Lloyds and HBOS has wanted to merge years previous. The Hbos guy as we know was very ambitious.

I believe they were blocked due to competition concerns. What Brown did was wave his hand and give his political papal blessing on the deal, assuring them it would be approved no matter what.
Quite often alot of money is wasted during a takeover or merger on regulation negotiation and/or failure but they fast tracked it due to the situation which some thought nothing more then a bear raid like in March when hbos shares fell 50% and then regained it all - just a market trick.
It was not, the fall for HBOS in profit was precipitous and real. On the bright side I like the CEO now and his background. I might sell some Lloy shares again today though

typistretired

My vote is for none of the options as I believe TSB will be fine. Especially with everyone wanting to open one of their current accounts which pay interest. I have 2 lots of Lloyds shares (from Halifax days) the ordinary shares which are not paying dividends and the ones which are (when Halifax took over Birmingham Midshires)

sabretoothtigger

Wisdom of the crowds wins again.

Just read TSB has a couple of approaches to be taken over before it can officially come to market even.
I wonder if the value would run up even further if Lloyds did let the sale continue into 2014.

However I believe they will take the money now if possible as this 'recovery' is pretty precarious and bills need to be paid