News: HSBC takeover of Lloyds TSB?

It has just been announced that HSBC Bank Middle East Limited (“HBME”) has entered into an initial agreement to acquire the United Arab Emirates onshore retail and commercial banking business of Lloyds TSB Middle East subject to regulatory approvals.

An unexpected move that is likely to please and annoy customers in equal measures. It appears that overall Lloyds TSB offers a better level of service to their personal banking customers than HSBC, so it’ll be interesting to see how this pans out, assuming the merger eventually takes place.

 

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About financialuae

A qualified and experienced Independent Financial Adviser based in Dubai, UAE. Professional and ethical. Freelance writer on personal financial issues & the On Your Side column in The National. Regular radio guest. Senior Partner at Holborn Assets LLC, Dubai, UAE.
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One Response to News: HSBC takeover of Lloyds TSB?

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