National Australia Bank to bid for 600 Lloyds branches
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The National Australia Bank is preparing a bid for 600 branches that Lloyds Banking Group is being forced to sell, according to The Sunday Times.
The newspaper says NAB, which owns Yorkshire and Clydesdale banks, has made the acquisition a top strategic priority.
Lloyds is being forced to sell the branches as a condition of its Government bail-out due to European Commission competition rules.
NAB currently has 339 retail branches and 72 business banking centres through the Yorkshire and Clydesdale brands.
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