Stay Know with Free Update
Just sign up with UK Banks MyFted Digest – provided directly to your inbox.
Natwest rules himself from bidding for UK TSB TSB TSB in the UK, eliminating one of the leading contenders from the sales process that is expected to have interest from some largest lender.
The past owned state owned by the state has decided not to continue to take the lender together in Sabadell, and inactive bid for it according to three people familiar with this matter.
Natwest’s decision not to make an offer for TSB comes after the Spanish owner of TSB Confirmed financial report that it works with counselors to check the UK Bank offload after receiving unpleasant ways. The bids due on June 27, the FT previously reported.
Barclays and Santanders are one of the bidders who think of making an offer for the country’s country, according to the people familiar with the process.
Santander has last year Happiness bids From both natwest and barclays for the UK’s retail arm, but finally rejected the offers because of the disagreement of the price.
Spanish executives are concerned with the high base cost of Santander UK, the weak relative return to other British markets, the FT previously reported before.
However, a successful bid for TSB stimulates sharing the Stanander market and suggest that the lender remains committed to the country’s business. The bank used to say Santander UK “not sold”.
The fate of TSB was asked last year as Sabadell, who bought the UK Lending from Lloyds Banking Group to a £ 1.7bn deal in 2015will try to withdraw a € 11bn enemy taking bid from its domestic opposite BBVA.
The TSB has 5mn customers in the UK, and last year has been posted pre-tax revenue £ 285mn. It has £ 46.bn of assets at the end of 2024.
Natwest refuses to comment on TSB. It is looking for it to expand more aggressive since it returns to Private possession at the end of MayWith the principal executive Paul Thwaite who signed him in front of the foot to claim claims despite Santander’s bank of Santander’s bank of Santander’s Santander.
Thwaite tells investors in a Goldman Sachs conference last week that the bank can “discipline” a “long financial bar” related to love.
TSB changes in ownership are not always smooth. If it moves from former owner of Lloyds’ Infrastructure to Sabadell’s Systems this system in 2018, it Left 3mm customers temporarily locked in their accountsspending the bank £ 49mmm with fine.
Sabadell refused to comment.
Barney Jopson’s further report to Madrid