Natwest excludes offers for TSB

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Natwest, UK High Street Bank, who eliminated one of the leading bidders of a sales process expected to attract part of the largest lender, managed himself outside the offer for the TSB.

Earlier, the State Bank and the owner of the Sabadell decided not to receive retailers and do not offer this for three people familiar with this issue.

The decision of the TSB not to make a proposal for the TSB after the Spanish owner confirmed the report of financial time After receiving unwanted approaches, the operation of the UK Bank to investigate the loading of the Bank. The proposals are on June 27, FT was previously reported.

According to the people who are familiar with the process of Barclays and Santander, the bidders are among the bidders.

Santander has a last year Fun suggestions The British refers to both Natwest and Barclays for retail lever, but as a result due to differences differences.

Spanish leaders, Santander was annoyed by the high price base of UK, other markets and weaker returns than the regulatory environment of England, Ft.

However, a successful offer for the TSB will increase Santander’s Britain’s market share and the lender is committed to the work of the country. The bank previously said that Santander said UK “sold.”

The fate of the TSB was put to the question as Sabadell who bought the UK in the last year 1.7 billion pound contract from Lloyds Banking Group in 2015He tries to offer an anti-enemy offering from the local opponent 11 billion euros Bbva.

TSB has about 5 mn customers in the UK and sent a pre-tax profit before £ 285 million last year. At the end of 2024, there were 46.BN pounds in assets.

Natwest refused to comment on the TSB. Trying to expand more aggressively since returning Private property at the end of MayThe CEO was on the front foot, along with Paul Thwaite, despite his withdrawal by Santander.

Thwaite, investors at a Goldman Sachs conference last week, the bank will be “very disciplined” in the approach of shopping and “very high financial rod”, as well as “very high financial rod”, said.

The changes in the property of the TSB have not always been smooth. When the former owner switched to the Sabadellin IT system from the inheritance infrastructure of Lloyds in 2018 Left 2mn client temporarily left out of their accountsThe bank costs £ 49 mn.

Sabadell refused to comment.

Additional report by Barney Jopson in Madrid