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OFT: TSB's reliance on Lloyds' IT systems could hinder market competition

Matthew Finnegan | Sept. 16, 2013
Independent organisation should be employed to scrutinise shared services deal

RBS has already run into problems with its own divestment, with a proposed deal worth £1.7 billion involving the sale of 316 branches to Santander falling through due to problems integrating its complex IT infrastructure with the other bank.

It had originally been intended that the Co-op bank would purchase the Lloyds branches as part of Project Verde, but the £750 million deal fell through due to acapital shortfall at the Co-op.

 

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