Lloyds Banking Group has announced that it will phase out the 173-year-old Halifax brand with immediate effect, rebranding all customer accounts and branches under the Lloyds name over time as part of a simplification of its retail banking business in England, Wales and Northern Ireland.

The group said new customers will no longer be able to open Halifax accounts, while existing customers will gradually migrate to Lloyds branding in the coming months. Halifax customers will be invited to switch to the Lloyds app and online banking in the coming weeks, although account numbers, sort codes and Financial Services Compensation Scheme protection will remain unchanged. The group's 190 Halifax branches will be rebranded from early 2027, with Lloyds confirming none will close and no jobs will be lost as a result of the changes.

Jas Singh, chief executive of consumer relationships at Lloyds Banking Group, said: "As Halifax changes to Lloyds, our Halifax customers will keep everything they know and love today – the same fantastic app design, the same friendly faces in our branches – even the same sort code and account number." He added: "Our Lloyds customers are already benefiting from a significant investment into propositions like Club Lloyds, Lloyds Premier, Lloyds Ultra and Lloyds Rewards – and now we're really excited that Halifax customers can bank on Lloyds for more."

The decision ends one of Britain's best-known banking brands, founded in Halifax, West Yorkshire, in 1852 as a building society before becoming a listed bank in the 1990s. Halifax merged with Bank of Scotland in 2001 to form HBOS, which was rescued by Lloyds during the 2008 financial crisis in a government-backed deal completed in 2009. Bank of Scotland will continue as the group's retail banking brand in Scotland.

According to The Guardian, the move follows a review of Lloyds' branding strategy and comes before chief executive Charlie Nunn is due to unveil the group's next strategic plan alongside half-year results later this month. The lender has increasingly integrated its retail operations in recent years, including allowing customers to use branches across its different banking brands.

The BBC reported that local leaders expressed disappointment at the loss of the Halifax name while welcoming Lloyds' commitment to the town. Dan Sutherland, leader of Calderdale Council, said: "We know the Halifax brand is important for many generations of local people who care about the town's heritage and are proud of the brand's part in our local traditions, family history and Halifax's profile across the world."

---