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UK bank branches may be picked off by Australia and Spain

Mon 17th May 2010

Banks in Australia and Spain have both had discussions with British banks about joint ventures.

The National Australia Bank has held talks with Spain's BBVA about creating a joint venture in Britain with Royal Bank of Scotland, which has 300 branches.

The branches, which are being sold for £1.5 billion, could be snapped up by NAB which already owns Clydesdale and Yorkshire banks in the UK.

The National is hoping BBVA will be able to help it in the deal.

Another Spanish bank, Santander, has also expressed interest in buying the branches.

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