RBS eyes Australian assets sale

Last month, the Edinburgh-based company raised £12bn after selling shares to existing shareholders in a rights issue - the biggest in UK corporate history.

It has also sold off the UK's biggest train leasing firm, Angel Trains, for £3.6bn to a consortium and is keen to offload its insurance assets, which include Direct Line and Churchill.

But with firms intent on preserving capital and cheap debt difficult to come by, it may struggle to get the price it wants, analysts say.

Zurich Financial Services, one of the leading bidders, pulled out of the race for these businesses on Thursday.

National Australia Bank said that there was "no certainty" that a deal would be reached.

"Any potential transaction would be subject to due diligence and, ultimately, the receipt of relevant regulatory approvals," the Melbourne-based firm said.