Cheltenham Entities

What I do now is begin the process of reform and reconstruction in order to have a banking system safer and more competitive, with more major banks that we have at this time, with the entry of new participants, said the Minister of Finance of Britain, Alistair Darling, to refer to this issue. Meanwhile, the British Government, in his generosity, decided in yesterday, to give it some 21,000 million pounds sterling to Lloyds, which will increase its stake in the entity. The same will be with the RBS on which the Government will become owner of 84% of the shares with 75% of voting rights. But the process of cleaning and sorting of the financial system promises not to finish with the three entities mentioned above. The Cheltenham & Gloucester, entity specializing in mortgages, which has 160 offices across the country, and the Bank Intelligent Finance, they would also be with the poster for sale. And there could be more, but at the moment, they are not mentioned within the Group of entities that would be on sale in whole or in part, to insurers Scottish Widows and Clerical Medical.

Although everything depends on negotiations that entities can do with the Government, so far, Lloyds would bring the market around 185 of its branches in Scotland, while RBS would sell 312 branches in England than it was the Williams & Glyn s Bank and NatWest in Scotland offices. The RBS would also have to divest their insurers, including Churchill and Direct Line and other business units are to strengthen the position of the Bank. The fate of the Northern Rock bank is divided into two parts, rescuing the good part of the bad part. This good part will contain 18.5 billion pounds of deposits and some 10 billion pounds in healthy mortgages.