NAB considering bid for BankWest

NAB is rumoured to be considering making a bid to purchase HBOS Australia, which includes BankWest, Capital Finance Australia and St. Andrew's. BankWest's 121 branches in fast growing Western Australia and $37 billion in deposits is believed to be the main target of NAB's interest. NAB and HBOS both declined to comment on the rumours while a spokesperson for HBOS said their Australian business was going well.

Source: Bloomberg