Tribune: Halifax set to close

This is big news … … from-uk-t/

Halifax set to close

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Goddamit what ever happened to Perfidious Albion?

Did anyone tell Colm Meaney? I just saw the add showing on Sky 1, bit of a waste of his talents. 8)

What are the implications of this for current account holders with the bank? Will it be a case that they must close their account by a certain date?


Hard to tell. Savings customers would have to be moved over to BOSI I would have thought. But there’s nothing to stop them closing all current accounts on a certain date.

I imagine their staff will be getting lots of difficult questions from customers until August. Can’t be pleasant to find out that you’re out of a job with a newspaper report either.

It never was…

Perhaps not an identical situation, but First Active closed recently, and all accounts were simply moved to Ulster Bank.

I was spitting with fury when I saw this. Our best hope of avoiding national bankruptcy was to have the foreign owned banks force realistic valuations on the banks’ follies. Instead we’ll see those values artificially propped up due to this.

First Active are still open actually.

MOD Edit: Glee breach.

I don’t think the Government have the same influence with the Danes and the Dutch, there is still some hope that ACC and NIB will keep the pressure on.

Will this “rump” be doing anything? In particular the business banking. I’d suspect that BOSI were at least knees deep in property development (possibly waist or neck). With the local economy in for a number of crap years, lending to small/medium business is risky. I’m surprised they have the appetite. Will they continue to originate new business loans or run-off existing book?

or even remortgages!

I suspect that even if we valued the properties realistically, the losses on the loans would bankrupt the state anyway.

This really is incredible stuff.

Collusion, price fixing, unlawful state support, anti competitive behaviour - you name it.

Just as well we operate under a capitalist free market system 8-

Maybe that’s what his ma was ringing him to tell him about?

Around the time Halifax were buying up ESB shops, the other main banks were selling branches and headquarters.

ESB must have been particularly chuffed to offload their network of retail outlets close to the peak of the boom.

How many ESB shops did they buy in the end? I know in Limerick they didn’t buy the ESB shop, not sure what happened it in the end, it would have been prime redevelopment land before the collapse.