Of Special Interest
13th December 2011
NBNK may bid for Yorkshire & Clydesdale
The Financial Times suggests that if NBNK is not successful in its bid for the Lloyds Banking branches for sale it may instead bid for the Yorkshire and Clydesdale Banks owned by National Australia Bank(NAB).
Like many organisations National Australia believes there is little point in staying in a market with only a small market share which is not increasing by any significant amount. After stating that this case applied to Yorkshire and Clydesdale banks the bank has partially backtracked on this in public saying there are no current plans for the sale.
It is also understood to be the case that NAB and NBNK after both recording interest in the Lloyds branches considered a joint bid for the assets however NAB decided ultimately not to proceed with this plan.
[See also Newslink: NBNK said to have improved Lloyds branches bid ]