By Ian Walker

LONDON--Banking group CYBG PLC (CYBG.LN) confirmed Wednesday that it has made a preliminary non-binding proposal to Royal Bank of Scotland Group PLC (RBS.LN) in relation to its Williams and Glyn operations.

Responding to recent press talks, the holding company for the Clydesdale and Yorkshire Banks, said a deal will only be pursued if it's in the best interest of shareholders, and therefore there's no certainty any transaction will occur.

Further announcements will be made as required, CYBG added.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

October 26, 2016 02:41 ET (06:41 GMT)

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