Goodbye Bank of Scotland

[afleitch]

1695-2008

The oldest bank in the UK, will it is likely dissapear after the shock buy-out by Lloyds. This is a huge blow for our national economy and our national pride. It was a greedy bastard but it had tradition, it employed thousands and it was the pinnacle of the Edinburgh financial sector. It merged with the Halifax in 2001 and kept the two brands seperate.

I hope, I really do hope Lloyds do the same. But it probably won't

There are fears that the other Scottish giant, the Royal Bank of Scotland may be in a similar position.

The Bank of Scotland is my bank. My pennies are safe but I feel strangely upset at it's demise

[afleitch]

Yes, it's strange how people get attached to that sort of thing. Always used to get Bank of Scotland and Royal Bank of Scotland confused.

They are known here simply as 'The Bank' and 'The Royal'

If the job and branch losses in Scotland are unfairly disproportionate then I'll probably switch.

[afleitch]

No more Howard...

Finally, some good news!

And we still get these

[afleitch]

Will the name remain? Very sad to see such a historical company go away.

Indications are that it will, at least in Scotland (otherwise people would probably jump to the Royal Bank of Scotland) It will retain some presence at it's HQ on The Mound, managing the Scottish banks and will continue to prink its own banknotes. Any bank with headquarters in Scotland is allowed to print it's own banknotes. Only three banks can/choose to do this; Bank of Scotland, The Royal Bank of Scotland and the Clydesdale Bank.

[afleitch]

http://www.scotsman.com/latest-national-news/Government-considering-HBOS-options.4981001.jp

After a shares plunge the government may have to nationalise the Lloyds Banking Group

Remember that the government backed the takeover of HBOS blocked the competition commissions concerns, blocked the attempted buyout of the Bank of Scotland by businessmen, brushed aside the Scottish Governments suggestion that the Bank of Scotland  be nationalised as a single entity and rubber stamped this buyout all the way....

Well now it may have brought down what was Lloyds TSB with it.

Cheers Gordon.

[afleitch]

There'll be a run on Monday morning, forcing the government to nationalise by Tuesday.

The only good to come of that (from my POV) is that Bank of Scotland can be sold off seperately when the time comes.