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At least four bids for Lloyds branches

13 July 2011 4:23PM
At least four banks and investors lodged bids for the 632 branches and related deposits and loans that Lloyds Banking Group has on the market.Dow Jones reported four bids from Virgin Money, NBNK Investments, National Australia Bank and The Co-operative Bank. There may also be other bidders.The branches serve approximately 5.5 million customers and cover £64 billion in assets, and £32 billion in liabilities. They generated a pre-tax profit of around £500 million in 2010.

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