Natest is excluding bidding to TSB

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Natwist has excluded itself from giving bids to the United Kingdom Bank, which led to the elimination of a prominent competitor from a sale that was expected to require attention from some of the country’s largest lenders.

The previously owned bank in the country decided not to follow up on the seller’s retail lender, and does not make an offer for it according to three people familiar with this issue.

Natewist’s decision not to make a TSB offer comes after the Spanish TSB owner The Times Financial report confirmed He was working with consultants to check the UK bank unloading after receiving unwanted methods. The bids are due by June 27, the FT was previously reported.

Barclays and Santander are among the offers of offers to make an offer to the retail bank, according to the people familiar with this process.

Natestan refused to comment. She was looking to expand more aggressively since her return Private ownership at the end of MayWith CEO Paul Thawit indicates that he was on the front foot when it came to the acquisition.

British bank this year Make an approach worth 11 billion pounds, Sterling As for retail in the UK, but it was rejected by the Spanish bank, the Financial Times previously reported.

I told the investors at the Goldman Sachs conference last week that the bank would be “very disciplined” in its approach to acquisitions and has a “very high financial strip” in addition to a “very high operating bar” when it comes to dealing.

The fate of TSB was launched last year as Sabadell – who bought the UK The lender from the Lloyds Banking Group in a deal worth 1.7 billion pounds in 2015 He tries to coincidence with the hostile acquisition of 11 billion euros from its local competitor Bbva.

TSB has about 5 million customers in the United Kingdom, and last year he achieved profits before taxes of 285 million pounds. She had 46 pounds in assets at the end of 2024.

Street lender changes in the UK in the monarchy have not always been smooth. When TSB moved from Lloyds former Lloyds infrastructure to the SABADELL IT system in 2018, Customers left 2 million closed temporarily from their accountsThe bank costs 49 million pounds in fines.

Sabadel refused to comment.

Additional reports by Barney Jobson in Madrid