Bailed-out UK bank Lloyds to make Singapore home after closing Australian and Hong Kong offices

To simplify its international footprint.

Lloyds will consolidate its Asian commercial banking activities in Singapore following decisions to close its Australia and Hong Kong offices in 2013 and 2014, according to an announcement from the UK bank.

Singapore would become the group's Asian hub as part of its strategy of simplifying its international footprint, the announcement said.

According to a report by Reuters, the group sold its Australian corporate loan book, motor and equipment financing businesses for A$1.45bn (US$1.31bn) to Westpac Banking Corp in December 2013, as reported at the time.
Stephen Skulley will head the group's current commercial banking office in Singapore.

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