Of Special Interest
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- Newslink Trends-The Global Strategic Perspective
- Juniper Research says digital wallet users to exceed 4.4 billion by 2025, as mobile drives digital payments’ revolution
- Criminals exploit COVID-19 pandemic with rise in scams targeting victims online
- Equifax says Open Banking proving pivotal to pandemic lending
- Consumer confidence in banks, credit card providers and investments remain stable as demand supercharges digital finance says Toluna research
- Mintos says Europeans are starting to embrace investing
- US banks see IT modernisation as a way to improve customer experience
- Risk mitigation in global trade depends on digitisation-Andrew Raymond, CEO, Bolero International comments
- Juniper Research new study says the volume of B2B payments facilitated by non-banks will exceed 53 billion in 2022, from a COVID-related low of 38 billion in 2020
- CMA issues fifth publication over 3 years of the service quality league table of personal and business current account providers
- Barclays says scammers take advantage of COVID-19, cashing in on nations’ uncertainty
- S&P Global report says financial market infrastructure sector's earnings likely to cool off In second half
- Global banking market capitalisation slumps by over 30% amid pandemic says Buyshares research
- Digital wallet spend in Europe & North America to increase by 40% in 2019, finds study
- Juniper forecasts mobile money transactions will exceed 200 billion by 2024
- Banks can save the world from climate change, says former UN climate chief
- Research by NatWest reveals gender divide over attitudes to saving
- Europe’s big bank problem: too much capital is trapped in the US, says Scope
- Later-Life lending market set to almost double in the next 10 years, finds report
- Barclays/Cebr report challenges nation to think differently about wealth
- Fifth of UK investors looking to debt investment, new research reveals
- Regtech will play a more important role in PSD2, says Mitek
- Banks turn to Fintech partnerships to improve customer experience, finds Fraedom
- New industry code to tackle fraud must deliver, says Which?
- New TTF report highlights loss of trust in financial services
- Arxan highlights financial app vulnerability epidemic
- SAS asks whether banks really need to choose between operations and innovation
- Which? raises alarm as almost 1,700 free ATMs become fee-charging
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
6th September 2011
NBNK to buy Lloyds branches, Clydesdale & Yorkshire banks?
The Financial Times reports that NBNK in negotiations to buy Clydesdale and Yorkshire banks from National Australia Bank simultaneously with its negotiations to buy the 632 branches for sale from Lloyds Banking Group.
The benefits of completing on the two deals would be both in critical mass and more importantly the NAB purchases would provide the processing and infrastructure for the Lloyds branches. NAB have said on more than one occasion that the existing Clydesdale and Yorkshire Banks did not have enough scale and their operation in the UK would have to get larger or close. NAB is understood to have registered interest in the Lloyds branches purchase but then not bid in the first round which had been thought strange.
The newspaper reports NBNK and NAB have been in talks for some weeks. They will have to decide before the end of this month, the final date for the Lloyds' branches bid to be placed. Although described in shorthand as Lloyds branches the sale also includes the Cheltenham & Gloucester and Intelligent Finance brands. The sale was a requirement of the European Commission as a remedy for the state aid received. Clydesdale Bank has almost all of its branches in Scotland with a handful of business centres and flagship branches in England. Yorkshire has most of its branches in Yorkshire and other parts of the North of England. Clydesdale & Yorkshire together have around 340 branches.
NBNK is an investment vehicle created and chaired by Lord Levene.
It is suggested that NBNK is seeking to raise £8bn (€9.1bn $12.9bn ¥992bn Y82.5bn) from investors and that the sale price for the Lloyds assets is around £2bn and perhaps around £1.5bn for Clydesdale and Yorkshire Banks. The NBNK vision is likely to be attractive to regulators, politicians and the public with the formation of new 6th force in UK retail branches led by a board of highly experienced individuals.