Some 350 branches of the RBS Bank (including customers accounts) are being put up for sale by action. The deadline for the first round of bids is expected to attract at least two Spanish players—Spain's Santander and BBVA.
The price tag for the assets is estimated between £1 billion and £2 billion.
The branches in England, Scotland and Wales, will allow the new owner to expand fast in a mature market that analysts say still has strong potential. Spain's Santander—which entered the UK market in 2004 when it bought Abbey National—scooped up Alliance Leicester and Bradford Bingley at fire-sale prices in 2008.
The bank has made no secret of its interest in the UK assets ordered for sale by the European Commission.
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