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.