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Santander in reported Clydesdale Bank bid

Santander in reported Clydesdale Bank bid

Category: Banking

Updated: 21/01/2013
First Published: 21/01/2013

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Santander is rumoured to be considering a £2-billion takeover of Clydesdale and Yorkshire banks to help boost its business banking sector in the UK.

According to The Daily Telegraph, the bank is believed to be looking into a possible takeover of the Glasgow-based banks, which are owned by the National Australia Bank (NAB).

It is believed senior executives at Santander have been considering the move after plans to buy a network of 316 Royal Bank of Scotland branches fell through last October.

Santander's UK division experienced a 27% fall in profits to £372 million during the three months to 30 September last year, following a series of funding and regulatory costs.

The Spanish bank is the UK's fifth largest lender and has an estimated 25 million customers.

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