Tag: NBNK

NBNK seeks investment for new Lloyds bid

NBNK seeks investment for new Lloyds bid

NBNK Investments Plc is reported to be talking to Middle Eastern sovereign wealth funds with a view to increasing its bid for 632 branches being sold by Lloyds Banking Group. Lloyds has been in exclusive talks with the Co-operative Group over the a�?Project Verdea�� business since December, but announced on Friday that these talks had […]

April 30, 2012 More
NBNK submits new offer for Lloyds branches

NBNK submits new offer for Lloyds branches

NBNK Investments Plc, which was formed in 2010 to create a new British bank, has submitted a new offer to buy 632 Lloyds TSB branches from the Lloyds Banking Group. Lloyds is required to sell the branches under European Commission competition regulations. In December it named the Co-op Bank as preferred bidder for the so-called […]

April 12, 2012 More
Debit card transactions declined by Yorkshire and Clydesdale

Debit card transactions declined by Yorkshire and Clydesdale

Customers of Clydesdale and Yorkshire Bank have been experiencing problems with debit cards being declined due to computer changes. The problem initially occurred while the banks, which are both part of the National Australia Bank (NAB), were transferring their systems operations to an external contractor on Sunday morning. Problems with some Mastercard debit transactions persisted […]

March 6, 2012 More
NBNK considering bid for Clydesdale Bank

NBNK considering bid for Clydesdale Bank

New bank NBNK is believed to be considering a bid for Clydesdale and Yorkshire banks after it was announced that the two banks will undergo a strategic review. The review, by parent company National Australia Bank, could lead to Clydesdale and Yorkshire banks being sold or floated on the stock market. NBNK has not confirmed […]

February 13, 2012 More
Co-op Bank to buy Lloyds branches

Co-op Bank to buy Lloyds branches

The Co-operative Group has been named preferred bidder for 632 branches being sold by Lloyds Banking Group. The Co-op was in competition with NBNK for the branches which are being sold under European competition rules. It will now enter exclusive talks with Lloyds over the deal, which would expand its branch network to 947, giving […]

December 14, 2011 More
NBNK to bid for Lloyds branches

NBNK to bid for Lloyds branches

According to the BBC, financial institution NBNK is to submit a second bid for the 600+ branches which Lloyds Banking Group is putting up for sale. It is understood the branches could fetch around A?1.5 billion, according to sources close to the matter. Lloyds is selling the branches under the orders of the European Commission […]

September 28, 2011 More
NBNK shares suspended amid merger talks

NBNK shares suspended amid merger talks

Shares in financial institution NBNK has had its shares suspended on AIM after it confirmed it is in merger talks. The bank, which is run by Gary Hoffman who is the former chief executive of crisis-torn Northern Rock, was established a year ago to make acquisitions and is set to build a significant presence in […]

September 6, 2011 More
Northern Rocka��s Gary Hoffman to join NBNK

Northern Rocka��s Gary Hoffman to join NBNK

The chief executive of nationalised Northern Rock is leaving the crisis-torn bank to join NBNK. According to reports today, Gary Hoffman will assume the chief executive’s role at NBNK – the banking institution set up by two City financial-sector heavyweights. NBNK is set to build a significant presence in the UK and is now trading […]

November 4, 2010 More
Independent Commission to consider breaking up big banks

Independent Commission to consider breaking up big banks

In a further massive shake-up of the UKa��s banking industry, the Independent Commission on Banking (ICB) is looking at ways to increase competition and choice among high street banks. One option could see existing banking giants broken up and new names enter the industry. The ICB, which is headed by Sir John Vickers, was established […]

September 24, 2010 More
NBNK raises A?50m through share issue

NBNK raises A?50m through share issue

NBNK plans to compete with other High Street banks and has raised A?50 million via a share issue. The institution, set up by two City financial-sector heavyweights, is set to build a significant presence in the UK and is now trading on London’s AIM. The bank said it will use the funds to buy branches […]