HBOS

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HBOS plc (an abbreviation of Halifax-Bank of Scotland) was a banking and insurance company in the United Kingdom, now a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009. It is the holding company for Bank of Scotland plc, which operated the Bank of Scotland and Halifax brands in the UK, as well as HBOS Australia and HBOS Insurance & Investment Group Limited, the group's insurance division. HBOS was formed by the 2001 merger of Halifax plc and the Bank of Scotland. The formation of HBOS was heralded as creating a fifth force in British banking as it created a company of comparable size and stature to the established Big Four UK retail banks. It was also the UK's largest mortgage lender. The HBOS Group Reorganisation Act 2006 saw the transfer of Halifax plc and Capital Bank plc to the Bank of Scotland, which had by then become a registered public limited company, Bank of Scotland plc. Although officially HBOS was not an acronym of any specific words...

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