The Mound to be Scottish base of new group

HBOS\' main base of operations in Edinburgh, The Mound, will remain as Scottish base for enlarged group.

In a statement this morning, it also says that it will continue to hold its Annual General Meeting in Scotland and will continue to print Bank of Scotland bank notes.

In addition the management focus is to keep jobs in Scotland.

There were warnings yesterday that up to 40,000 jobs could potentially be at risk as a result of the mega merger between the two brands.

Sources warned that because there are so many synergies between the two brands, the potential human cost in terms of job losses could be huge.