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Has the HBOS bailout changed the face of UK banking forever?

While the government had little choice in reality, the nurtured takeover of HBOS by Lloyds Bank has the potential to change the face of UK banking forever and not necessarily for the good of the consumer. It is reported that one in five in the UK will have dealings with the new super bank as it pushes to the top of the UK banking tree and looks to call the shots in the future.

There has been uproar amongst the other leading UK banks with many suggesting that Lloyds Bank is being over compensated for taking over HBOS and affectively saving the UK financial sector. The super bank will have massive financial power and be able to undercut the vast majority of its competitors in the future, something which may not work out best for the consumer in the long run.

The power to undercut your competitors to get new customers is fine but whether you remain as competitive once you have signed up new customers remains to be seen. Instantly we will see massive cost savings as the fundamentally sound businesses are merged together resulting in massive cash flow, profits and a growing power in the future. The UK financial markets are changing and only the fittest and the leanest will survive!

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