What’s this? A new publicly listed bank?
And before you ask, we are not talking about Metro Bank or those RBS branches ear-marked for sale being rolled up into some Aim-listed shell vehicle. Read more
Investment vehicle NBNK is discussing the takeover of National Australia Bank’s UK assets, the Telegraph reports, in a deal that will kick-start the formation of a new banking group that could challenge Britain’s largest lenders. The new venture, which was set up by Lord Levene to acquire banking assets, is in early talks that could lead to an offer for Clydesdale and Yorkshire banks, the two brands NAB owns in the UK. NBNK is expected to announce that it is in talks about a potential acquisition as early as Tuesday, the FT says. Its shares would then be suspended from the Aim market. The move would give NBNK access to a banking platform, which would be a significant advantage in its attempts to buy the 632 branches Lloyds is selling. Read more
Isn’t Twitter useful:
Maybe Gordon’s just there to admire the view. Or maybe, given how keen the PM is on offshore tax havens n’ stuff, he was there to ask why the (Scottish) Clydesdale bank only yesterday set up a major new subsidiary on Guernsey, Clydesdale International:
Welcome to Clydesdale Bank International. We have developed an innovative solution for our Private clients who manage their finances offshore. Read more
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