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Dec 20, 2016 · Lloyds is to buy credit card firm MBNA from Bank of America for £1.9bn, in the UK bank's first acquisition since the 2008 financial crisis.
Dec 20, 2016 · Lloyds has bought credit card provider MBNA for £1.9bn. The deal had been rumoured for several weeks and is the first time the bank has bought another major business since the financial crisis.
- Olivia Rudgard
Jun 1, 2017 · Lloyds Bank has completed a £1.9bn takeover of the MBNA credit card business, in its first major acquisition since the financial crisis. The UK bank, which was bailed out during the crisis,...
Jun 1, 2017 · The deal for MBNA, one of the UK's largest credit card issuers with £7bn in gross assets, will give Lloyds a 26 per cent share of the UK credit card market, up from around 15 per cent at present, adding around seven million customers and giving it a market share a point behind Barclaycard, which has 27 per cent of the market.
Dec 20, 2016 · Lloyds Banking Group has beaten other bidders to buy MBNA, one of the UK's biggest credit card issuers, for £1.9bn. The sale, by Bank of America, had attracted interest from the likes of Santander UK and HSBC but the process was hampered by concerns over MBNA's exposure to the payment protection insurance (PPI) scandal.
American owned credit card company MBNA is to be bought out by Lloyds Bank for almost £2 billion. The acquisition of MBNA, which is currently owned by Bank of America, is set to increase Lloyds Banking Group’s annual revenue by around £650 million and is expected to be completed by the end of Q2 next year. Lloyds also said that they expect ...
Dec 20, 2016 · Lloyds Banking Group is seeking to beef up its consumer finance offering, agreeing to a deal to buy credit card company MBNA from a subsidiary of Bank of America in its first acquisition...
