By Marcus Leach

NBNK Investments have confirmed that they made a bid to buy 632 Lloyds Banking Group branches.

The new banking venture have not revealed the amount of the bid, but reports from the BBC suggest it is in the region of £1.5 billion.

Lloyds are being forced to sell the branches by European Commission competition authorities, and has until the end of 2013 to do so.

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