Santander denies NAB branch talks

Santander has denied that it is in talks over buying some 300 branches of Clydesdale and Yorkshire Bank from their current owner National Australia Bank.

A UK spokesman for Spanish-owned Santander said the bank is focused on organic growth and there have been no discussions with NAB over a £2bn deal for the UK banks.

But commentators believe that it is still interested in making an acquisition following the collapse last October of talks to buy 316 branches of Royal Bank of Scotland.

Santander chiefs had been keen on that deal as it would have boosted its presence in the small business marketplace.