In the same week Lloyds Bank has announced a number of branch closures, its CEO says it will look into FinTech acquisition.
In Brief:
Lloyds Banking Group has identified 66 branches it plans to close over the next few months.
48 Lloyds branches and 18 Halifax branches in the UK will close between October and February.
Meanwhile Bloomberg reports that CEO Charlie Nunn said the firm could buy more financial technology companies to “bolster its digital offering”.
What does this mean?
Bloomberg TV features Nunn saying that following Lloyds’ agreement to buy wealth platform Embark Group and protection business Cavendish Online, as well as a partnership with Minna Technologies, the group will “definitely continue” to look into acquisitions going forward.
Read more about the branch closures here and the interview with Nunn here.
