Bank of Scotland in Australian deal

CURRENT plans from the Bank of Scotland to extend its reach in Australia could create overseas design opportunities for UK consultancies.

The bank is currently in negotiations with the Pharmacy Guild of Australia to launch a joint venture direct banking operation, which would enable Australian consumers to bank through their local chemist.

If successful, the negotiations could spell in-store design opportunities at the 5000 Australian pharmacies which would then be able to offer banking services.

A Bank of Scotland spokeswoman says: “All I can say at the moment is that we are in negotiations [with the Pharmacy Guild].”

Last week the Bank of Scotland reported pre-tax profits of almost 750m, while Sainsbury’s Bank, one of its UK partners, has recruited almost one million customers in the UK since its launch last year.

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