Bank merger is still 'on track'
Merger partners HBOS and Lloyds TSB have insisted their tie-up is on track, as troubled HBOS revealed a further £2.72 billion hit from the credit crunch.
HBOS said writedowns totalled £5.18 billion in the first nine months of the year after suffering increasingly tough conditions amid the global financial crisis.
Lloyds also said profits had seen a "substantial reduction" since the start of the year.
But both banks confirmed their commitment to the deal, despite speculation of a rival deal for HBOS from an unnamed foreign suitor.
