British bank Lloyds TSB announced today it was taking over rival bank HBOS - the parent of Perth-based BankWest - in a 12.2 billion pound ($A28 billion) deal.
HBOS, the UK parent of BankWest, has reportedly confirmed it will axe 425 jobs and close one of its five mortgage brands to new business in order to cut costs.
HBOS, the UK owner of Perth-based BankWest, today said shareholders agreed to take up 8.29 per cent of its $8 billion rights issue, increasing speculation that Perth-based BankWest could be up for sale.
West Perth-based Information Technology services provider Unisys West Pty Ltd will no longer be able to name its UK-based parent among its customers, after HBOS Australia Pty Ltd annouced plans to end its IT contact with the company in December.
