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BRIEF-Lloyds agrees changes to TSB structure, profits
September 11, 2013 / 5:18 PM / 4 years ago

BRIEF-Lloyds agrees changes to TSB structure, profits

Sept 11 (Reuters) - Lloyds Banking Group PLC : * Agreement with hmt regarding tsb * Lloyds Banking Group announces agreement with her majesty’s treasury

regarding tsb * Notes announcement made today by hmt of the effect on competition of the

divestment of tsb bank * Group accepts the oft’s principal recommendations * Has now agreed with hmt a number of measures to enable tsb to accelerate its

growth strategy * Group will also provide tsb with additional £40 million to enable future

customer acquisition, develop its branch network. * Says changes to tsb portfolio will enhance tsb’s profitability by over £200

million in aggregate in the first 4 years * Group’s agreement with hmt is conditional on approval by the European

commission * Measures include an agreement in relation to the provision of business and it

services from the group to tsb * Measures alos inclue the transfer of the economic benefit of a portfolio of

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