Lloyds could pull out of independent Scotland

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Lloyds Banking Group is considering transferring its registered office from Edinburgh to London if Scotland becomes independent, according to Reuters. The group is currently registered in Scotland with its headquarters in London.

Lloyds has expressed concern already over the uncertainties created by Scottish independence, which it believes could have a “material impact” on its business.

It is reported the bank will shift its registered office out of Scotland while Bank of Scotland, also part of Lloyds, will remain in Edinburgh as a foreign division.

A Lloyds statement says: “The scale of potential change is unclear but we have contingency plans.”