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HBOS was formed in 2001 from the merger of the Bank of Scotland, which was founded in 1699 and is the oldest surviving clearing bank in Europe, and the Halifax, which was founded in 1853 and was the UK's largest building society until it converted into a bank in 1997.
The Bank of Scotland retail branch network was predominately Scottish, while the Halifax's network was largely confined to England and Wales. This was one reason why the merger was approved by the Monopolies and Mergers Commission.
Prior to the merger, Halifax was predominately a retail bank and mortgage and consumer finance...