New Lloyds TSB current account customers will be able to enjoy a 6 percent interest rate if they open the Lloyds Plus account before 13 July.
The account is paying this exceptional rate for 12 months from the date the account is opened on balances up to GBP25,002. After the year is up the interest rate will rever back to 4 percent, still a very good rate in itself. The one proviso made is that at least GBP1,000 must be paid into the Lloyds TSB current account each month.
A spokeswoman from Lloyds TSB proudly stood by the rate offered, delighted that it was offering higher rates while many of its competitors were reducing theirs.
Northern Rock has named a new chief executive to lead the government funded bank forwards.
Gary Hoffman, previously the vice chairman at Barclays has taken on the role, replacing Andy Kuipers who had been at the bank for the last 20 years. Mr Hoffman will officially take over at the end of August and is very excited to be given the task of heading up Northern Rock.
When Mr Kuipers, the last person from the previous board remaining, leaves it will signify a new start for the Northern Rock, bringing an optimism for customers, staff and investors that the future will be better than the recent past.
Citibank parent citigroup has posted another loss for the third successive quarter, though it is less than was expected.
Asset wise Citibank is the biggest bank in the United States but has been badly hit by the sub-prime lending troubles and is fighting to get out of the mire. The bank recorded losses of GBP1.3 billion in the three month period to the end of June, with around GBP5.8 billion of write-downs again hitting them hard.
The losses were less than anticipated though leading to their share price going up by a little less than 8 percent. The Citibank chairman said that although there is still a lot of work to do they are very encouraged by the progress that has already been made.
