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HBOS plc

legal form Public limited company
founding September 10, 2001
resolution January 19, 2009
Reason for dissolution Merger with Lloyds TSB
Seat Edinburgh , Scotland
Number of employees 72,000
Branch Finance, investment

HBOS plc was the holding company of the HBOS Group, which was created in September 2001 through the merger of the Halifax plc group (formerly the Halifax Building Society) with the Bank of Scotland group . The name is an abbreviation for Halifax Bank Of Scotland . HBOS was headquartered in Edinburgh , Scotland . Most recently, HBOS employed almost 72,000 people worldwide.

In September 2008, in the wake of the international financial crisis, a takeover of HBOS by Lloyds TSB was agreed, from which the merged company Lloyds Banking Group emerged . HBOS shareholders approved the planned share swap, which took effect in mid-January 2009.

Both Halifax and Bank of Scotland will continue to exist as separate brands within the expanded group.

Takeover by Lloyds TSB

On September 18, 2008, the major British bank Lloyds TSB announced that it would take over HBOS, which had been troubled by the escalating global financial crisis, for the sum of 12.2 billion pounds (around 15.47 billion euros). The day before, the HBOS share price had collapsed as a result of the worldwide panic selling of bank shares. While the 52-week high was 989 pence and the previous week's closing price was 282 pence, the share had plummeted to 88 pence during the day.

The takeover will be financed through a share swap . HBOS shareholders receive 0.83 Lloyds TSB shares per own share, which is valued at 232 pence (2.92 euros). The former HBOS shareholders will thus have a 44% stake in the new financial giant, which collectively holds a good third of all UK mortgage loans and a quarter of UK savings and has 38 million customers. The transaction only became possible after antitrust concerns were thrown overboard by both the Bank of England and government agencies. British Treasury Secretary Alistair Darling defended the takeover by pointing out that financial stability is paramount and overrides concerns about competition in the banking sector.

The approval of the shareholders of Lloyds took place on November 19, 2008, the shareholders' meeting of HBOS approved on December 12, 2008. The merger thus resolved will come into effect in the second half of January 2009.

Former Halifax Bank logo


  1. a b Lloyds TSB - The latest update on the proposed HBOS acquisition ( Memento of the original from October 26, 2008 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot /
  2. n-tv: Ashes on your head: Sorry the British bankers
  3. ^ Dow Jones Report , September 18, 2008

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