What Is Halifax Bank Plc in the UK?
The United Kingdom-based Halifax plc is department of the Bank of Scotland and falls under the Parasol of Lloyds Banking Accumulation. It was founded in 1853 in Scotland as a building country to grant at ease loans. Finished mergers and department expansions it became the largest building territory in the UK. In 1997, it registered as a typical corporation to pass into Halifax plc.
Deregulation
The Building Societies Fact of 1986 deregulated the UK's building societies, allowing Halifax to diversify its services by offering commercial bank accounts and credit cards.
Extensive Interest
An estimated 7.5 million people became shareholders of the new Halifax plc after it went public.HBOS
In 2001, Halifax merged with the Bank of Scotland to become the Halifax Bank of Scotland, or HBOS, but kept their separate names, and were acquired in 2009 by Lloyds Banking Group.Going Public
In 1995 Halifax merged with the Leeds Permanent Building Country and switched two elderliness subsequent from a mutually-owned collection to a typical district convention (plc).Selling Stock
For the ahead epoch in its 144-year lifetime, Halifax became a member of the London Inventory exchange in June 1997.Financial Difficulties
The British government acquired 43 percent of Lloyds after giving £17 billion in bailout funds in 2008, although the bank reported that it expected losses due to bad loans to arrive £13.5 billion in 2009.
