Halifax to disappear from high street after 173 years

(Sharecast News) - Lloyds Banking Group is to scrap the 173-year-old Halifax brand, the blue chip lender confirmed on Wednesday.

The bank was founded in 1853 as the Halifax Permanent Benefit Building Society in West Yorkshire. It demutualised in 1997 before merging with the Bank of Scotland in 2001 to form HBOS, which was then taken over by Lloyds in 2009 after the financial crisis left it facing collapse.

Halifax continued as a standalone brand under the new ownership. But Lloyds has now confirmed that, following a review of it group-wide branding strategy, the name will be phased out.

Customers have been able to use any branch, regardless of where their account is, since last year. But Halifax will now stop opening new accounts, while existing customers will be switched to the Lloyds app. The 190-strong branch network will also be rebranded throughout 2027. Lloyds, which has a total of 531 branches, said sites would either be rebranded "or, where there is another branch close by, customers will be served by an existing Lloyds branch in the same community".

Lloyds insisted there would be no role reductions, however.

Jas Singh, chief executive of consumer relationships, said: "Our Halifax customers will keep everything they know and love today - even the same sort code and account number. But as Lloyds customers they'll get the bet innovation and experiences we offer."

Lloyds also confirmed that Bank of Scotland will remain the lead brand for its Scottish customers.