Lloyds Banking Group Readies Berlin Branch Ahead of Brexit -Reuters

Lloyds Banking Group is planning to have its Berlin unit ready for business by the end of 2018--ahead of the U.K.'s exit from the EU, Reuters reports, citing an unnamed source.

--The British bank applied to convert its local branch into a subsidiary earlier this month, which will allow it to keep its mainland operations in the EU, according to Reuters.

--The move is "more than a formality," it says.

Full story: http://reut.rs/2rzIdXq

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(END) Dow Jones Newswires

January 23, 2018 05:59 ET (10:59 GMT)