Lloyds Banking Group is considering plans to phase out the Halifax brand in a move that would see the bank disappear from the high street.
The banking giant said no final decision has been made on discontinuing the brand, but stressed that any changes would not affect customer account numbers, or the level of protection offered under the Financial Services Compensation Scheme.
According to reports, bosses at the FTSE 100 lender are preparing to announce plans this summer.
The Sun said that Halifax could stop taking on new customers under its own brand by October.
Halifax merged with the Bank of Scotland to create the UK’s fifth-largest lender in 2001, which became known as HBOS.
HBOS became mired in controversy seven years later when the government brokered a deal for Lloyds TSB to buy the stricken bank in a £12billion deal.
It is understood the Bank of Scotland brand would be unaffected by any changes.
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