Clydesdale and Yorkshire in line for £2bn Spanish sale

Katrina Lloyd
clock

Spanish banking giant BBVA is considering a £2bn takeover bid for the British arm of National Australia Bank (NAB), which includes Clydesdale and Yorkshire banks.

Cameron Clyne, chief executive of NAB, is expected to put the banks up for sale within weeks, according to the Sunday Times. The potential sale comes after NAB failed in its attempt to buy a network of 318 RBS bank branches and is now expected to quit the UK altogether. Having failed to land the RBS business, which could have transformed the group into one of Britain's biggest banks, NAB is expected to attempt to quit Britain. Tentative discussions have taken place between BBVA and NAB in recent weeks but it is understood the Spanish bank has yet to make a formal approach, the Sund...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advice firms face data challenges amid new regulation

Advice firms face data challenges amid new regulation

Firms face challenges in collecting data and due diligence processes

Sahar Nazir
clock 24 April 2024 • 1 min read
PA Working Lunches: Register today to hear from Baillie Gifford

PA Working Lunches: Register today to hear from Baillie Gifford

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 24 April 2024 • 1 min read
PA Asks: Is plugging the retirement support gap a job for the FCA?

PA Asks: Is plugging the retirement support gap a job for the FCA?

This week’s poll also looks at auto-enrolment and client interest in ESG

Professional Adviser
clock 23 April 2024 • 1 min read