Lloyds Banking Group forecasts £1.5bn cost savings

Lloyds Banking Group said today that it expected annual cost savings of at least £1.5bn (€1.6bn) by the end of 2011 after its acquisition of Halifax Bank of Scotland (HBOS) was completed.

Lloyds Banking Group forecasts £1.5bn cost savings
Mon, 19 Jan, 2009 - 08:56

Lloyds Banking Group said today that it expected annual cost savings of at least £1.5bn (€1.6bn) by the end of 2011 after its acquisition of Halifax Bank of Scotland (HBOS) was completed.

The newly-formed group said Lloyds TSB had traded satisfactorily since its last update on December 12.

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