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Northern Rock may buy Lloyd and RBS branches

by: Mortgage Solutions
  • 19/02/2010
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Northern Rock could buy the branches of Royal Bank of Scotland (RBS) and Lloyds Banking Group

The management of Northern Rock is understood to be considering to be considering a bid for the branches in order to maintain a strong high street presence. The Tresuary is still considering whether to sell the good part of the bank which contains £10.4bn in mortgages.

The European Commission (EC) has ordered RBS to sell its 318 branches in England and Wales and its Nat West branches in Scotland. LBG has been ordered to sell 600 branches of Cheltenham & Gloucester and Lloyds TSB in England and Wales.

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