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Lloyds won’t say ‘yes’ or ‘no’ to answer Scottish question

BY Rachel | 21 April, 2014 | no comments

Lloyds Banking Group has refused to comment on reports that the bank might leave Scotland and domicile in the City, despite the “no” vote in the Scottish referendum.

On Friday Royal Bank of Scotland, like Lloyds majority-owned by the UK government, said that it would retain its headquarters in Edinburgh. It was one of several financial institutions that had threatened to move south if Scots chose independence.

However, Lloyds would say only that it was committed to retaining a “significant presence” in Scotland. At present the bank is registered in Edinburgh and holds its annual meetings in Scotland.

A report in The Mail on Sunday suggested that the company was still considering leaving Scotland, although this would depend on the outcome of negotiations over increased devolution. The bank refused to comment on the newspaper report, other than saying: “We have always said this was a question for the Scottish people and we would respect the outcome of the referendum. We remain fully focused on supporting households and businesses in Scotland as well as right across the rest of the UK.”

Several other business leaders have suggested that the rejection of Scottish independence removes uncertainties that faced their businesses. They include Royal Dutch Shell and RBS, which has said that the “no” vote meant “business as usual”.