Black Horse to take over Bank of Scotland finance
Lloyds Banking Group, formed out of the merger between Lloyds TSB and HBOS last year, is to cut around 900 jobs at its UK motor finance division.
Black Horse will now become the group’s sole brand for the motor sector dealer finance, with the company offering all existing Bank of Scotland Dealer finance customers the chance to transfer their facilities over to Black Horse.
Newly appointed managing director of the combined Motor and Leisure businesses, Chris Sutton, said: “This move gives us a real opportunity to work even more closely with dealers, cement our already established relationships and help them to maximise their point of sale finance income.
“Whilst there will be some changes as we combine the businesses, for most of our dealers it will be business as usual. Our intention is to bring all our dealers together under the Black Horse brand, using Black Horse systems.”
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