Barclays Eyeing U.S. Retail Banks: Report

Barclays, the U.K. bank, is looking for a major acquisition in the U.S., a report says.

By Joseph Woelfel , Mar 10, 2010 1:15 AM EST

NEW YORK (

) --

Barclays

, the U.K. bank, is looking for a major acquisition in the U.S., a report says.

Barclays is looking to acquire a retail bank at a good price that would give it more deposits and build on the presence of Barclays Capital in the U.S., the

Wall Street Journal

reports, citing people close to the matter. Barclays is assessing possible targets, but no deal is imminent as the bank is focused only on reconnaissance right now, the newspaper adds.

Barclays bought Lehman Brothers North American operations in 2008.

Barclays officials aren't trying to get a foothold in a specific geographic market, the

Journal

reports. Instead, they are more interested in acquiring a franchise with a strong branch network and deposit base, according to people familiar with the matter.

The bank also is reviewing additional retail acquisitions in Western Europe, the people said.

-- Written by Joseph Woelfel in New York.

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