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In 1995, the Halifax announced it was to merge with the Leeds Permanent Building Society and convert to a plc. The Halifax floated on the London Stock Exchange on 2 June 1997. [ 5 ] Over 7.5 million customers of the Society became shareholders of the new bank, the largest extension of shareholders in UK history.
Halifax Building Society: ... acquired Irish Life Building Society, 1993: 1998 First Active plc ... it was common for them to use a roll number to identify accounts ...
In 2001, a wave of consolidations in the UK banking market led the former Halifax Building Society—which originated in 1853—to agree to a £10.8 billion merger with Bank of Scotland. [12] Trustee Savings Bank (TSB) can trace its roots back to the first savings bank founded by Henry Duncan in Ruthwell, Dumfriesshire, in 1810.
The building society sector has become much smaller with fewer building societies. This was caused, firstly, a number of building societies demutualising in the 1980s and 1990s and subsequently, taken over by banks. Secondly, there has been ongoing consolidation via mergers between societies. There are 42 building societies in the UK as of 2021 ...
HBOS offices in Lovell Park, Leeds, formerly those of the Leeds Permanent Building Society before its takeover by the Halifax Building Society. HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009.
The Bank of Scotland plc (Scottish Gaelic: Banca na h-Alba) is a commercial and clearing bank based in Edinburgh, Scotland, and is part of the Lloyds Banking Group. The bank was established by the Parliament of Scotland in 1695 to develop Scotland's trade with other countries, and aimed to create a stable banking system in the country. [ 2 ]
The company went on to acquire Halifax Estate Agencies Limited ('HEAL') from Lloyds Banking Group for a nominal consideration of £1 in October 2009. HEAL's 218 branches, which had been built up by Halifax Building Society in the 1980s, were rebranded to other LSL brands in 2010. [9]
In 1998, the Birmingham Midshires Building Society agreed to a takeover bid from the Royal Bank of Scotland. However the deal collapsed when Halifax plc tabled a more lucrative offer. Halifax itself became a part of HBOS plc when it merged with the Bank of Scotland in 2001. In 2007, it became a division of Bank of Scotland plc following a ...