Senior NAB bosses are thought to have been told to cancel any plans of leave as they have work to do. The bank is known to wish to expand further in the UK. It already owns the Clydesdale, Yorkshire, National Irish Bank and Northern Bank.
Abbey National is currently looking for a merger partner and under pressure chief executive, Ian Harley, admitted recently that the business is a sitting duck for takeover.
Although a deal may be some way off, analysts are confirming that it would make sense. The Abbey will be able to broaden its business banking base and NAB will get exposure to the south-east, which it has already said it wants to do.
Bank Ready To Move On The Abbey
The Scotsman reports that speculation is mounting that National Australia Bank (NAB) is clearing the way to open merger talks with troubled Abbey National. Senior UK NAB officials are believed to have been warned to gear up as the bank is likely 'to embark on a major due diligence project.' The Abbey is thought to be the natural target.
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