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10/09/2001
Halifax Bank of Scotland shares make a solid start
Share trading in HBOS, the bank formed through the merger of Halifax and Bank of Scotland, has made a solid start on its first day of trading.
Despite a depressed market, the bank’s shares opened at 827p, with analysts predicting shares to fare well, setting a price range forecast over the next year of between 750p and 1,035p.
The bank, which is hoping to challenge the big four UK banks in both the retail and small business banking sectors, plans to recruit 500 new staff as part of its plans to target the small business banking market.
However, the group is also aiming to cut around 2,000 jobs to produce annual savings of £305 million over three years.
HBOS is aiming for five per cent of the market in small business banking with the new business banking operations based in branches and backed up by call centres. (MB)
Despite a depressed market, the bank’s shares opened at 827p, with analysts predicting shares to fare well, setting a price range forecast over the next year of between 750p and 1,035p.
The bank, which is hoping to challenge the big four UK banks in both the retail and small business banking sectors, plans to recruit 500 new staff as part of its plans to target the small business banking market.
However, the group is also aiming to cut around 2,000 jobs to produce annual savings of £305 million over three years.
HBOS is aiming for five per cent of the market in small business banking with the new business banking operations based in branches and backed up by call centres. (MB)
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Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
