Report: 'Only two bids' for Lloyds branches

Britain's Lloyds Banking Group has received only two bids for the 632 branches it has put up for sale, which could force it to demerge them instead, it was reported today.

Only NBNK and Co-operative Financial Services made formal offers ahead of the deadline, which has prompted Lloyds’ advisers to consider a possible float of the branches as separate business, the Sunday Telegraph said.