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Lloyds waits for referendum before deciding on relocation

The new chairman of Lloyds Banking Group says the company has not made a decision on whether to relocate if Scotland votes to become independent.

Lloyds Banking Group’s has its registered offices in Edinburgh but chairman Norman Blackwell told shareholders at the bank’s AGM yesterday that there were still too many uncertainties to make the decision.

Blackwell said: ”We are not at this point planning any moves because we fon’t know what the result will be. If they were to wove for independence we will seek to work with relevant authorities to achieve our core purpose of serving customers across the UK.”

Lloyds Banking Group includes Halifax and Bank of Scotland business following its merger with HBOS at the height of the financial crisis and also includes the Scottish Widows life and pensions business.

The vote on independence will be held on 18 September.

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