motor finance market are on the horizon, following last month’s
dramatic news that two of the UK’s largest banks are to combine
their operations.
The proposed merger of Lloyds TSB and HBOS – if it goes ahead –
will create a dominant player in both the point-of-sale (PoS) motor
finance and the corporate fleet leasing sectors.
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In retail PoS, Black Horse and Bank of Scotland Dealer Finance
are the two largest non-captive finance providers; a new PoS
provider formed from the two companies will be the largest funder
of finance for new and used cars in the UK.
HBOS-owned Lex and Lloyds TSB Autolease, meanwhile, will, if
merged, have a fleet of around 380,000 units – three times as large
as that of the next-biggest operator.
However, Andy Hornby, the recently-resigned chief executive of
HBOS has said that the integration of the two banks’ businesses
could take up to two years to complete.
See The path to the
super-fleet? and A revolution at the
point of sale? for more on Lloyds/HBOS
