Atom Bank subject to potential Spanish takeover bid

The Durham-based bank is said to be on the verge of appointing Citi to advice its board on options for the business.

Atom Bank subject to potential Spanish takeover bid

Atom Bank could be set for a takeover bid from BBVA, Spain’s second biggest mortgage lender, Sky News reports.

The Durham-based bank is said to be on the verge of appointing Citi to advice its board on options for the business.

Atom Bank raised nearly £150m from investors led by BBVA last year, with the latter owning nearly 40% of the lender’s shares.

Under the terms of the shareholder agreement the Spanish lender has the option of acquiring the rest of the shares.

Atom Bank was unavailable for comment.