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Bids due tonight on Lloyds branches

11 July 2011 4:50PM
Prospective bidders are due to lodge offers tonight for a portfolio of branches and customer loans and deposits being sold in the UK by Lloyds Banking Group.Lloyds is likely to whittle the bids down to a shortlist, and seek a second round of bids, by the end of this month, The Scotsman reports. Lloyds then wants to identify its preferred bidder by the end of August, a shorter timetable than talked about previously.One presumed bidder for the 630 branches up for sale is National Australia Bank, though the patriotic business media in the UK seem to think a local champion will secure the assets.

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