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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
On January 1, 2006, MBNA merged with and into Bank of America. MBNA America Bank, National Association, (MBNA) then became a wholly owned subsidiary of Bank of America. On June 10, 2006, MBNA changed its name to FIA Card Services, National Association (FIA), which is not an acronym.
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 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 Banking Group has this week completed its £1.9 billion takeover of credit card firm MBNA, but customers of both will see "no changes whatsoever", according to the banking giant.
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.
Whether it’s credit cards, loans or home insurance, MBNA is there to help make financial choices easier. MBNA has been based in Chester since 1993. A pioneer in providing customers with new ways to pay, including contactless cards and digital wallets, more recently MBNA has introduced loans and home insurance to sit alongside their credit ...
