With all the goings on with the Icelandic banks Icesave and Kaupthing, there has been little said about the other favourite foreign bank of recent times, India’s ICICI.
Some better news for Icesave customers following yesterday’s news that they were basically going bust – Alastair Darling has effectively guaranteed all deposits in the bank, even those over the FSCS maximum of £50,000.
You only have to take a look at the Money Saving Expert forums to see how the news of Icesave’s demise has gone down with its 300,000 British savers – post after post of queries asking how much of their money is protected and how they can get their money back.
So what do Icesave savers need to know?
Further to the news that Bradford & Bingley is to be partly nationalised and partly sold off to the private sector, it looks as if Spanish banking giant Santander is likely to acquire of B&B’s savings business.
Yesterday we wrote how Bradford & Bingley appeared to be on the verge of going bust, and it seems that the Treasury are indeed now working towards a part-private sale part-nationalisation of the UK’s 8th largest bank.
There are increasing worries that the Bradford & Bingley bank is about to go bust, and will end up nationalised in much the same way as Northern Rock was.
OK, so maybe my version of how the new Lloyds TSB / HBOS logo should look isn’t quite as funny as this one. Anyone got any more ideas for logos or names for the new banking group?
Today’s extraordinary developments in UK banking have gradually been unfolding throughout the day, and whilst nothing is yet set in stone, a few more details on the Lloyds TSB / HBOS merger are becoming clearer.
Some big breaking news from the world of banking this morning after it looks like there are talks between Halifax Bank Of Scotland (HBOS) and Lloyds TSB to merge, which would create a “super-bank” on the high street.
So, the U.S. Treasury has decided not to bail-out Lehman Brothers bank, the fourth largest investment bank in the States. It now makes me wonder what our Government would do should one of our big banks threatened to go bust?