Lloyds Banking Group is considering phasing out its Halifax brand, a move that could bring an end to the 173-year-old institution.
The Sun reports that bosses are expected to announce the end of Halifax as a standalone brand this summer.
It is understood that no definitive decisions have yet been made about the brand, which granted its first mortgage in 1853.
Should Halifax be phased out, account numbers would remain unchanged, and customers’ automatic protection under the Financial Services Compensation Scheme (FSCS) would be unaffected.
“We regularly look at the role our brands play in supporting our customers,” a spokesperson for Lloyds said.
“Our banking customers can already use any Lloyds, Halifax or Bank of Scotland branch, and see any of their products and services in any of their apps – there are no changes for our customers today.”
The Sun reported, citing industry insiders, that any transition would begin on 1 July when people will no longer be able to open new Halifax accounts online or through the app.
By October, Halifax will stop taking on new customers entirely and existing account holders will be gradually migrated to Lloyds Bank, the reports say.
Lloyds declined to comment on the potential timings for any plans.
Britain’s biggest mortgage lender made changes in 2025 that meant its three brands, Lloyds, Halifax and Bank of Scotland, could share branches and mobile banking services.
The shake-up meant some customers could access to a branch that is closer to their home because they will be able to access face-to-face banking regardless of the brand.
However, the banking giant has also shut hundreds of high street branches over recent years.
It started another round of closures this month, which will see 95 branches shuttered across the three brands by March 2027.
The closures will leave the group with 610 branches in total, of which 306 are Lloyds, 238 Halifax and 66 Bank of Scotland.
Lloyds has said that all employees currently working at the affected branches will be offered alternative roles within the business or at other locations.
Halifax and Lloyds operate in the same market in England and Wales, while Bank of Scotland is the group’s only brand in Scotland.