Medway employees of Halifax Bank of Scotland and Lloyds TSB may have to wait until the New Year to learn their fate.

Lloyds TSB is to acquire HBOS for £12.2 billion, leading to speculation of branch closures and fears of up to 40,000 job losses across the UK.

A spokesman for HBOS said there was unlikely to be any news about jobs until after Christmas.

He said: "It is a very early stage. The stock exchange announcement talks about this acquisition being completed by the beginning of next year and that is just the formal part."

There are 25 branches of the Halifax in Kent and up to 60 branches of Lloyds TSB.

There has been nationwide speculation that towns and cities with branches of both banks would now be likely to lose one.

Rochester and Chatham are among Kent high streets with both Halifax and Lloyds TSB branches.

The deal, announced after HBOS shares plummeted in recent days, values shares in Halifax Bank of Scotland at 232p each, and could lead to cost savings of £1bn a year.

Lloyds has played down claims that up to 40,000 staff face the axe.

Deputy general secretary of Unite, the union representing bank staff, Graham Goddard said: "With an economic downturn biting, thousands of staff at both banks will be very worried about the consequences of a merger.

"Unite is calling for urgent talks at the highest level with the banks. We will not accept any compulsory redundancies as a result of this merger.

"The country is in the grip of a credit crunch and the cost of living is spiralling.

"Lloyds TSB and HBOS must take a socially responsible approach to this merger and make the well-being of their hard-working staff a priority during these difficult times."