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Barclays mulling over Spanish purchase

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by Kay Mitchell

It has been reported that banking giant Barclays is considering purchasing one of Spain’s ailing regional savings banks.

According to the Sunday Times, the bank’s chief executive, Bob Diamond, met with the Spanish Prime Minister, Jose Luis Rodriguez Zapatero, last week.

However, Barclays has declined to comment on the report and it is unknown which of the regional banks Barclays is interested in.

Spanish banks are struggling with a mountain of bad debt due to the collapse of the country’s property market.

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News posted: May 30, 2011

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