Barclays eyes Spanish savings banks

LONDON: British bank Barclays is looking at four Spanish cajas, or small savings banks, as a way of bolstering its position in the country's fragmented retail banking industry, the Sunday Telegraph reported.

The newspaper, without citing sources, said Barclays was one of eight domestic and international banks to have made a first-round bid for Caja de Ahorros del Mediterraneo.

It is also in the early stages of looking at a further three cajas, including Novacaixagalicia, the Telegraph added.

The newspaper said if Barclays could not gain traction in the Spanish market it could choose to exit the country.