AnaCap eyes RBS branch sale

City A.M. Reporter
ANACAP Financial Partners, a private equity backer of Aldermore Bank, has emerged as a new bidder in the race to snap up the 316 branches that RBS is being forced to sell.

AnaCap is understood to have indicated to RBS that it is interested.

The European Commission is forcing RBS to sell off the branches – which come with 1.8m customers and close to 250,000 business accounts – by the end of 2013 as part of the bank’s 2008 bailout.

Other possible bidders include Nationwide Building Society, Richard Branson’s Virgin Money and US investor JC Flowers.

UBS AG is managing the sale.