Lloyds Banking Group, the UK’s
largest retail bank with over 3,100 branches under its Lloyds TSB,
Halifax, Bank of Scotland and Cheltenham & Gloucester (C&G)
brands, is reportedly willing to sell a number of its
Scotland-based Lloyds TSB outlets as well as the 164-branch-strong
C&G network, to comply with EU antitrust regulations.

Lloyds’ current Scottish-based network
includes 187 Lloyds TSB branded units. In August, Lloyds announced
it was reviewing its planned closure of all C&G branches in the
UK, pending an internal review.

Following the controversial marriage of Lloyds
TSB and the failed HBOS last year, Lloyds now has a mortgage market
share in the UK of around 27 percent, with current account and
savings account customer numbers both exceeding 21 million.

In a separate announcement, the UK finance
minister, Alistair Darling, said large banks will be prevented from
acquiring the government’s stakes in Lloyds, Royal Bank of Scotland
and Northern Rock.

“Banks with government shareholdings are now
restructuring their businesses and we will ensure that happens in a
way that… supports new banks entering the market,” said
Darling.

A number of potential new entrants to the UK
retail banking market are at varying stages of setting up shop,
notably US entrepreneur Vernon Hill who plans to open a number of
Metro Bank-branded outlets in the London area later this year
(see RBI 603). Richard
Branson’s Virgin Money has also been linked with obtaining a UK
banking licence.

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