The Halifax brand, which has been a well-known name on the banking landscape for close to two centuries, is set to disappear, with customer accounts rebranded to Lloyds.
The decision by Lloyds Banking Group, which has owned Halifax since 2009, has now been confirmed after earlier reports suggested the phasing out of Halifax as a standalone brand was being considered.
Halifax branches are expected to either rebrand as Lloyds or merge with nearby Lloyds branches throughout 2027, and no job cuts have been announced as part of the move.
The BBC reports Jas Singh, Lloyds Banking Group's Chief Executive of Consumer Relationships, has said the move will not mean much change for customers.
He said: "As Halifax changes to Lloyds, our Halifax customers will keep everything they know and love today - the same fantastic app design, the same friendly faces in our branches - even the same sort code and account number."
It is reported the rationale behind the decision is to simplify the group's portfolio.
FSTE100
The UK's flagship share index, the FTSE 100, was down 16 points at 10,486 shortly after opening this morning.
Brent crude oil futures were down 1.41%, sitting at $70.56 a barrel this morning.
Companies reporting
- 3I Infrastructure - Q1 Operations Update
- Associated British Foods - Q3 Trading Statement
- Baltic Classifieds Group - Full Year Results
- Currys - Full Year Results