Connect with us

Hi, what are you looking for?


Lloyds may have 3 subsidiaries in Europe

British bank Lloyds Banking Group is expected to set up 3 subsidiaries in Europe after Brexit. This is to counter the complications following Britain’s exit from EU. The bank is expected to run most of its continental business from Berlin, where it has around 300 staff. The bank may also open a subsidiary in Frankfurt to support its euro bond trading business, while a 3rd operation would support its closed-book insurance business.  Each of the new subsidiaries will secure new licenses and will have capital reserves, though there may not be any significant movement of jobs. Frankfurt is Europe’s largest center for euro bond trading outside of London, and Lloyds already has a branch in the city. A location for the third subsidiary had not been decided.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.