HBOS and Lloyds Bank merger may be 'reversed'
HALIFAX Bank of Scotland and Lloyds Bank may be de-merged, a member of the Independent Commission on Banking has said.
Clare Spottiswoode, a member of the body which advises the government on the future of banks, said that the body might "suggest reversing" the hugely controversial merger, made in 2009 when HBOS was on the verge of collapse.
Banking regulators are said to be concerned at the market share held by some banks following the financial crisis. Royal Bank of Scotland has already been forced to sell off branches by the European Union.
Spottiswoode added that increased competition would be necessary for the future of banking. "We do not have a very healthy competitive market in financial services," she said. She said regulators had not done enough to tackle the high barriers for new banks to enter the market.
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