Bank Of Scotland And Halifax. Halifax-Bank of Scotland (HBOS) + Join Group. Halifax (previously known as Halifax Building Society) is a British banking brand operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group.
For Halifax, a merger with Bank of Scotland would allow its chief executive, James Crosby, to diversify further away from mortgages, which have been a drag on profits, and tap into Bank of Scotland's lucrative small- and medium-size banking enterprise.
Finally after the complicated process of transferring assets Halifax was merged with Lloyds Banking Group, which majorly owns and manages its operations at large today.
A spokesperson for the banking group stressed that the vast majority of customers can access its internet banking sites normally. A major outage has hit Halifax, Lloyds and Bank of Scotland on New Year's Day, leaving vast numbers of Britons unable to access their accounts. Halifax Bank underwent a merger with the Bank of Scotland and was renamed as HBOS.