May 15, 2014 / 11:52 AM / in 4 years

Lloyds Bank 'not planning move' ahead of Scots independence vote

EDINBURGH, May 15 (Reuters) - Lloyds Banking Group is not currently preparing to leave Scotland if it votes for independence from the rest of the United Kingdom, Chairman Norman Blackwell told shareholders at the bank’s annual meeting on Thursday.

Lloyds, which owns Bank of Scotland and has its registered offices in Edinburgh, has warned that a vote for independence will impact its cost of funding, taxes and compliance costs.

“We are not at this point planning any moves because we don’t know what the result will be. If they were to vote for independence we will seek to work with relevant authorities to ensure we have a way forward to achieve our core purposes of serving customers across the UK,” Blackwell said. (Reporting by Matt Scuffham; Editing by Steve Slater)

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