An approach has been made by Lloyds TSB for German bank Dresdner as the well known UK financial institution looks to maximise retail opportunities across Europe.
Lloyds TSB has ridden the credit crunch very well and as such it is in a very strong position compared with many others. This is why it is making tentative enquiries regarding the German bank, valued at around GBP6 billion. It has a keen interest in the German market generally as it is also looking at a couple of other big name German banks that are potentially for sale.
At the moment there is no immediate need for action so Lloyds TSB will seek the views of their shareholders as to their thoughts on how they wish to see their funds invested before making any further steps toward purchase.
The Abbey National has been speaking to families in the UK and found them cutting their holiday budgets so they can allocate more of their money to day to day living expenses.
Compared with last year the average family spends around GBP175 less than they were doing on a holiday, prompted in no small part by the expectation of fuel and food bills going up by around 60 percent compared with last year. Other areas of family life are also seeing cuts said the Abbey National, including childcare, sports, hobbies and toys.
It is a natural stance to take said the Abbey National, since parents try and manage their finances with common sense, knowing that their family depend on them.
Lloyds TSB has just announced a new current account, called the Vantage. The account offers tiered rates of interest and is open to both existing and new customers.
There are no fees associated with the day to day running of the Lloyds TSB Vantage account and all customers need to do is pay at least GBP1,000 per month into the account and make sure it stays in credit. Interest rates are worked out on a daily basis and the rate determined is applied to the whole amount held.
The interest rates offered, go from 0.1 percent for the lowest amounts held up to a maximum rate of 5 percent where a balance is GBP5,000 or more. A Lloyds TSB spokesperson said that the tiered structure had been applied to reward customers and show them it was worth keeping their money in the account.
