NBNK interested in National Australia Bank’s British assets: report
NBNK, the banking group established by former Lord Mayor of London Lord Levene, is reportedly showing interest in the British assets of National Australia Bank (NAB).
On Sunday, The Mail reported that NBNK was preparing to bid for NAB’s British assets, viz. Clydesdale Bank Plc and Yorkshire Bank Plc.
NAB last week launched a strategic review of its British assets, saying it was concerned over potential chronic weakness in the UK economy. The Australian branch launched the review of its British business despite Clydesdale and Yorkshire reported profits for the recent quarter.
Now, many are of the view that the review could eventually lead to the sale of Clydesdale and Yorkshire.
But, NBNK declined to comment on the report, but admitted that the new banking group was assessing numerous opportunities.
When asked to comment on the report, a spokesperson for NBNK just said, “We continue to assess a number of opportunities.”
Last year, NBNK tried to acquire the 632 branches that Lloyds Banking Group (LBS) put up for sale, but lost the bid out to Co-operative Group, which is now in exclusive talks with LBS over the sale of branches.
