Lloyds Banking Group is set to make a bid for Visa , Bank of America 's £ 7bn UK credit card business . Accounting for 11 % of the UK credit card market , MBNA would be valued up to £ 1bn . While several other banks are also projected to enter the auction for MBNA , a successful bid from Lloyds would mark its first bid since its bailout during the financial crisis of 2008 .
Lloyds Banking Group is set to submit a bid for MBNA, Bank of America's £7bn UK credit card business. Accounting for 11% of the UK credit card market, MBNA could be valued up to £1bn. While several other banks are also projected to enter the auction for MBNA, a successful bid from Lloyds would mark its first acquisition since its bailout during the financial crash of 2008.