NAB may partner Bank of Ireland: reports

National Australia Bank has emerged as the next possible merger partner for Bank of Ireland.

According to Australian stockbroker JB Were NAB and BoI share many of the same strategic intentions, and a combination of the two could make sense.

"It would not be beyond reason of NAB and BoI to consider a merger. The prize may be smaller for NAB, but the executability is high," the broker said in a report.

NAB also had a takeover approach for Abbey National rebuffed in recent weeks.

Michael Soden, BoI’s chief executive, formerly helf the number two position at NAB.