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NAB makes final bid for UK bank branches

by Staff Reporter7 minute read

By: Staff Reporter

NAB’s chief executive Cameron Clyne has made a final dash to the UK in order to win the race for more than 300 Royal Bank of Scotland branches.

The major already owns Clydesdale and Yorkshire Banks in the UK, and is believed to be in a tussle with Spanish banking giant Santander for the RBS branches.

According to an article in The Australian Financial Review, Mr Clyne flew to Britain last week ahead of the group’s board meeting with RBS this week.

The 318 RBS branches up for sale in England and Wales are expected to sell for $3.4 billion.

RBS is being forced to sell the branches as part of the conditions set down after the group was bailed out of the global financial crisis by the British government.

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