Bank Suspends New Car Finance in Crown Dependencies

A Lloyds Bank subsidiary has confirmed it will no longer provide new car finance to customers in the Crown dependencies, marking a significant shift in its regional lending operations.

Black Horse Offshore announced that, aside from motor lending, its remaining financial products will now be handled directly by Lloyds Bank. The company said the decision will impact a limited number of employees based in Jersey, Guernsey and the Isle of Man.

According to the lender, current motor finance agreements will continue to be supported until they expire, but customers will not be able to extend borrowing or take out new vehicle loans. The move also means the Black Horse brand will be phased out entirely in the Crown dependencies.

Lloyds Banking Group described the changes as part of its wider strategy to modernise its operations and strengthen future growth.

“To deliver the long-term strategy we set out in early 2022 and improve services for customers, we are undertaking a transformation across the business,” a spokesperson said. “Streamlining our activities in the Crown dependencies will help us boost efficiency and enhance the range of products and support we provide.”

Customers with queries about existing agreements or personal circumstances were encouraged to contact the company through normal channels.

The spokesperson added that staff affected by the restructuring are receiving support, noting that the bank continues to work closely with recognised unions throughout the process.