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Bank of Scotland News

  • Banks improve EFG lending to SMEs

    Figures published today show that bank lending to small and medium-sized businesses (SMEs) through the Enterprise Finance Guarantee (EFG) scheme is showing improvement. The scheme provides vital funding to SMEs that lack the collateral or credit history to secure a … Read more »

  • Lloyds earmarks £6.5bn for first-time buyers

    Lloyds Banking Group is supporting first-time buyers with a commitment to lend £6.5 billion in the year ahead to those taking their first step on to the property ladder. The bank expects to help around 60,000 people buy their first … Read more »

  • HBOS: eight charged with large-scale fraud

    Thames Valley Police has charged eight people following a large-scale investigation into offences originating from the Halifax Bank of Scotland branch in Reading, Berkshire. The charges follow an investigation carried out by the Force’s Economic Crime Unit, following a referral … Read more »

  • “Special advisers” to oversee FSA’s HBOS report

    The chairman of the Treasury Committee, Andrew Tyrie MP, has written to Financial Services Authority (FSA) chairman, Lord Turner, saying that the Committee will require the FSA to conduct a comprehensive assessment of the reasons for HBOS’s failure, and of … Read more »

  • FSA fines former HBOS director £500k

    The Financial Services Authority (FSA) has fined former HBOS director, Peter Cummings, £500,000 and banned him from holding any senior position in a UK bank, building society, investment or insurance firm. The fine is the highest imposed by the FSA … Read more »

  • Lloyds announces 1,000 job losses

    Days after making a commitment to its branch network and promising to keep the same number of branches for the next three years, Lloyds Banking Group says it is to make around 1,000 staff redundant, adding to the 28,000 job … Read more »

  • Lloyds’ credit rating threatened by management “upheavals”

    Moody’s has placed on review for possible downgrade the C- bank financial strength rating and A1 senior unsecured debt and deposit rating of Lloyds TSB. The A2 senior debt rating of Lloyds Banking Group, certain junior securities and related group … Read more »

  • FSA report to focus on Bank of Scotland corporate

    Lloyds Banking Group has revealed that the Financial Services Authority’s (FSA’s) promised report on the near-collapse of HBOS will focus on activities at Bank of Scotland’s corporate division, pre-2009. The regulator commenced a supervisory review of HBOS in 2009 but … Read more »

  • FSA to embark on HBOS report

    The Financial Services Authority (FSA) has plans to follow its long-awaited report into failures at the Royal Bank of Scotland (RBS) with a report into the near-collapse of HBOS. Failures at HBOS have so far resulted in an FSA enforcement … Read more »

  • Lloyds to shed 15,000 jobs worldwide

    Lloyds Banking Group is to shed 15,000 jobs worldwide. The group intends to deliver £1.5 billion of annual savings by 2014 through “better end-to-end processes and IT platforms, a delayered management structure and simpler legal structure”. Cost savings should enable … Read more »

  • Old Bailey hears £10m BoS mortgage fraud case

    A surveyor is this week standing trial at the Old Bailey over an alleged £10 million mortgage fraud involving Bank of Scotland. According to a BBC report, Mary-Jane Rathie is accused of inflating London property values between May 2007 and … Read more »

  • Scottish men are better savers than women

    The Bank of Scotland has commissioned research which reveals that Scottish men are outdoing Scottish women when it comes to saving. Thirty-six percent of the men surveyed have a savings account, compared to 33% of women. In addition, 24% of … Read more »

  • Bank of Scotland bolsters SME team

    Bank of Scotland has announced that it is bolstering its commercial team with three appointments, to help enhance the bank’s service to the Small and Medium Enterprise (SME) market in Scotland. Robert Marshall leaves behind his post as regional director … Read more »

  • Lloyds sells private equity portfolio to Coller Capital

    Lloyds Banking Group is selling a portfolio of 40 private equity investments held by its Bank of Scotland Integrated Finance (BOSIF) unit to a new joint venture. Cavendish Square Partners will be majority owned by private equity firm, Coller Capital, … Read more »

  • New lease of life for overdraft charges test case

    A new development regarding the failed unauthorised overdraft charges case could bring hope to consumers because a Scottish law centre has won the right for a client to challenge their bank in court under the Consumer Credit Act. The charges … Read more »

  • Lloyds faces multi-million pound losses on Kilmartin collapse

    Lloyds Banking Group could be facing substantial losses over the collapse of Kilmartin Holdings. The Scottish property developer has been placed in administration with debts to HBOS in the region of £500 million. Kilmartin built a reputation as a major … Read more »

  • Lenders advised to focus on commercial mortgage books

    A new report from CB Richard Ellis (CBRE) warns lenders that they should be focusing their attention on the quality of the UK commercial properties against which loans were secured during the last few years. The study, entitled “UK Commercial … Read more »

  • Lloyds shareholders take legal action against Chancellor and BoE governor

    Shareholders of Lloyds Banking Group are taking legal action against Bank of England governor, Mervyn King, and Chancellor of the Exchequer, Alistair Darling. Lloyds Action Now spokeswoman and former BBC Watchdog presenter, Alice Beer, says the group is proposing to … Read more »

  • BoE made secret loans of £61.6bn to RBS and HBOS

    At the height of the financial crisis the Bank of England was forced to prop up Royal Bank of Scotland (RBS) and HBOS with loans totalling £61.6 billion. The emergency funding was needed during October and November of 2008 to … Read more »