Tuesday, Jan 10, 2012
(This story was originally published Monday.)
DUBAI (Zawya Dow Jones)--Lloyds Banking Group (LLOY.LN) said Monday it is "considering a range of options" for its banking unit in the United Arab Emirates, but declined to comment on a report that it's in talks to sell the operations.
"We are considering a range of options for Lloyds TSB Middle East and have engaged a number of external parties and advisers to assist us in that process," a Lloyds spokesperson said.
The bank won't comment further until the process is concluded, the spokesperson added.
Reuters reported that Lloyds is discussing a sale, and that Abu Dhabi Commercial Bank (ADBC.AD) is the front runner to acquire the operations.
ADCB couldn't be immediately reached for comment.
Lloyds offers personal, commercial and private banking services in the Middle East.
-By Dubai Bureau, Dow Jones Newswires; +9714 446-1686; djnews.dubai@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
10-01-12 0406GMT
