An approach has been made by Lloyds TSB for German bank Dresdner as the well known UK financial institution looks to maximise retail opportunities across Europe.
Lloyds TSB has ridden the credit crunch very well and as such it is in a very strong position compared with many others. This is why it is making tentative enquiries regarding the German bank, valued at around GBP6 billion. It has a keen interest in the German market generally as it is also looking at a couple of other big name German banks that are potentially for sale.
At the moment there is no immediate need for action so Lloyds TSB will seek the views of their shareholders as to their thoughts on how they wish to see their funds invested before making any further steps toward purchase.
It is rumoured that the RBS could be ready to sell its stake in Tesco Finance, with a move expected within a few days.
Tesco Finance has RBS holding a 50 percent share of the business, which could be worth up to GBP950 million. This money would come in very handy for RBS, which has had a torrid time recently with the credit crunch denting its finances. This is just one of several sales that RBS appear to moving ahead with in their quest for GBP4 billion of extra money.
The management at Tesco Finance are unperturbed by the suggested sale since they have a very strong business position that would be attractive to any investor.
It has been suggested by the Alliance and Leicester that small business owners can make their lives easier by carefully selecting the best bank to suit them, rather than just going for the nearest or most advertised.
The Alliance and Leicester head of Business Banking has said that choosing the right deal on a business bank account can make a real difference in the day to day running of the organisation. More money can be earned in interest, there can be easier access to funds and good communications can ease stress levels.
With these points in mind it may come as no surprise to hear that the Alliance and Leicester has been named as the current account provider of the year for business banking, an award it has now received for the last 6 years.