National Australia Bank eyes Northern Rock
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National Australia Bank, parent company of Clydesdale Bank and Yorkshire Bank, is reportedly considering a deal to take over Northern Rock.
NAB is said to have held presentations by Citigroup, Lazard, Credit Suisse and Morgan Stanley discussing a deal to take over the nationalised bank, says a report in The Times today.
It is thought that NAB is also looking at buying up branches being shed by Royal Bank of Scotland and Lloyds Banking Group.
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Readers' comments (1)
Avenue & Co Private Finance | 4 Jan 2010 6:23 pm
Standard Life Bank never really had any competitive products to offer when comopared to the overall marketplace and ther recent pricing strategy clearly indicated that they were in no position to start being competitive in 2010 with LTV and Fixed rates way off the market leaders. Less choice is never good for advisers and another lender now showing distribution strategy away from brokers.
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