superbank


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superbank

(ˈsuːpəˌbæŋk)
n
a bank that owns other banks; an overarching banking organization
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
the surfing resource known as the Superbank, which is a world class and
In 2009 Wells Fargo merged with Wachovia to create a "superbank" with $1.4 trillion in assets and 48 million customers.
Lloyds, in which the state has a stake of 41 per cent, took over ailing bank HBOS at the height of the crisis, creating a superbank with more than 130,000 employees.
15 March 2010 - Swedish Nordea (STO: NDA) and Swedbank (STO: SWED A) may merge into a Nordic superbank but only after the crisis has blown over, Bjorn Wahlroos, board chairman in Finnish insurer Sampo Oyj (HEL: SAMAS), said today in an interview with Swedish daily Dagens Nyheter (DN).
The UK "superbank" was formed when Lloyds' took over HBOS in September last year.
The UK "superbank" formed by Lloyds' takeover of HBOS has endured a rocky ride since news of the rescue broke in September last year.
His spokesman said the Prime Minister had "no regrets at all" for supporting the creation of the superbank.
He added: "The Government is like someone trying to pump up a tyre without mending the puncture." It has also emerged that new "superbank" Lloyds Banking Group's losses have been DOUBLE those forecast.
But Mr Darling defended ministers' actions last October, when they smoothed the way for the merger of Lloyds and HBOS and pumped pounds 17m of taxpayers' money into the new "superbank".
Their tie-up was also rubber stamped by the High Court in Edinburgh paving the way for the creation of the superbank Lloyds Banking Group.
The public is left owning almost half the "superbank" - to add to the near 60 per cent stake in Royal Bank of Scotland.