British banking major Lloyds Banking Group said that Scottish independence will present some risk, however, it is not considering leaving Scotland if the country votes in favor of independence.
Lloyds Banking Group chairman Norman Blackwell was quoted by Reuters as saying, "We are not at this point planning any moves because we don’t know what the result will be."
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"If they were to vote for independence we will seek to work with relevant authorities to ensure we have a way forward to achieve our core purposes of serving customers across the UK," Blackwell told the publication.
Scotland is preparing for a referendum scheduled to take place on 18 September 2014, which could end the country’s 307-year-old union with England.
In case Scots votes for independence, Lloyds, which manages Bank of Scotland and has its registered offices in Edinburgh, said that it will work with the relevant authorities in the 12-18 month period after a ‘yes’ vote to decide the best initative.
The bank has already warned that Scotland independence will affect its cost of funding, taxes and compliance costs.
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By GlobalDataBlackwell’s comments came after insurance group Standard Life, which has been based in Scotland for nearly 200 years, said that it would not hesitate to move parts of its operations to England or register its funds there to protect its market position.
