NAB quits competition for RBS branches

Source said Australian lender leaves Banco Santander in race due to concerns on market conditions.

Australia's National Australia Bank Ltd. has pulled out of the race for Royal Bank of Scotland Group PLC's (RBS) 318 U.K. branches, a person familiar with the situation said.

According to the person, market conditions have made the bank less bullish on a bid, estimated at up to GBP2 billion.

Spain's Banco Santander SA (STD) is now the only bank conducting due diligence on the branches.

Peer Banco Bilbao Vizcaya Argentaria SA (BBVA) is also still in the process, but isn't conducting due diligence at the moment, people familiar with the situation said.

View the full story in Asia ADVFN.

Follow the link for more news on

Also Read

Citi appoints new sales head for key Asian markets

Citi combines in Japan, North Asia, and Australia clusters

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia