Spanish bank mulls Yorkshire and Clydesdale bid

Spanish bank BBVA is said to be mulling a bid for National Australia Bank’s (NAB) UK brands.

Yorkshire and Clydesdale banks
Yorkshire and Clydesdale banks

The reports come after NAB, which owns the Yorkshire and Clydesdale banks, announced it was dropping its bid to buy more than 300 Royal Bank of Scotland branches.

According to analysts, NAB’s UK business is worth about £2bn.

It is believed the Australian bank is looking to quit the UK after its failure to buy the RBS branches, which would have made it one of the UK’s biggest high street banks.

Santander is said to be the only remaining contender to buy the branches.

If its bid proves successful, it would provide a further boost to Santander’s UK branch network following the acquisition of Bradford & Bingley and Alliance & Leicester branches last year.

It would also increase the Spanish financial services firm’s business banking operation.

Santander is believed to be considering a listing of its UK business to fund the RBS branch acquisition.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here