Corporate Banking
Halifax Bank of Scotland plc (HBOS) was formed on the 10th of September 2001 as a result of the merger of Halifax Bank and the Bank of Scotland. The Bank of Scotland had a reputation for possessing specialist skills in business banking and was seen as a company with the credentials to compliment the Halifax who had a traditional role dominating the mortgage market The merger placed HBOS in the strong position as the 5th largest bank in Britain. HBOS is the UK's leading mortgage and savings provider and has assets of more than 320 billion, 20 million customers and 60,000 associates. The amalgamation forced the company to redefine its structure, organisational goals and objectives. The purpose of this paper is to provide an extensive overview of HBOS plc, focussing on its formal structure, organisational goals and objectives set by the management. An analysis of the extent to which these were achieved in the 2002 financial year is also discussed.
The report examines the scope of the bank's activities, the services it provides and the companies that form the HBOS group. Also, with reference to the HBOS financial report for 2002 and the resources available on the corporate website, the goals and objectives of the organisation are examined. Financial ratio analysis, applied to the 2002 financial accounts, and specific statistics gathered to provide the base of discussion from which the degree to which the company achieved its outlined goals and objectives in 2002.
Organisational Formal Structure When becoming familiar with an organisation, one of the most important aspects in describing a company is to outline its structure . The Halifax Bank of Scotland is no different from any other organisation in that it has a carefully designed corporate structure. Most published papers define the organisational formal structure as the way in which the work of a company is divided amongst the participants in the organisation.
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Mullins (2002, p530) states that the formal structure is the method by which management controls, monitors and coordinates the operations of an organisation to ensure that the goals and objectives are met in an efficient and effective manner. This definition is reiterated in, defining the structure as "the established pattern of relationships between the component parts of an organisation, outlining both communication, control and authority patterns.
Structure distinguishes the parts of an organisation and delineates the relationship between them! ". HBOS Formal Structure and Services HBOS is a large organisation which delivers its services through 5 divisions, incorporating 29 subsidiary companies which form the HBOS plc group. The HBOS group decided that the most effective and efficient way to format and present its services was to divide the labour under the departmental titles of Insurance and Investments, Retail Banking, The Treasury, Business Banking and corporate Banking.
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Corporate Banking. (2018, Feb 11). Retrieved from https://phdessay.com/corporate-banking/
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