Clydesdale Bank has launched a bid to buy the Williams and Glyn bank from Royal Bank of Scotland only weeks before the sale deadline.

The company has made a "a preliminary' offer to take control of the brand which the part-taxpayer owned bank failed recently to sell to Santander.

Williams and Glyn consists of 307 Royal Bank of Scotland branches in England and Wales and NatWest branches in Scotland.

RBS was required by the EU rid itself of the brand, because the Government's stake in the bank is regarded as state aid.

The Clydesdale bid is the latest twist in a seven-year sale process that has suffered multiple delays and setbacks and has cost RBS at least £1.5bn.

Santander previously launched two bids for the bank, but dropped out of talks with RBS for because of a disagreement over price.

RBS is meant to divest the 300-branch business by the end of next year under EU rules for receiving a £45bn bailout during the financial crisis.

The Williams & Glyn business is valued at around £1.3bn, but analysts expect it to be sold for less.

RBS is reportedly expected to inform the market that it may miss a 2017 deadline for fully offloading the business, because of the cumbersome process of divesting the branches from its IT systems.

RBS third-quarter figures are due out on Friday, amid speculation of a loss of £231m.

A Clydesdale spokesman confirmed that discussions were on-going with RBS and that a "preliminary non-binding proposal" had been made for Williams & Glyn.

It added: "There can be no certainty that any transaction will occur"

"A transaction will only be pursued if it is determined by the Board to be in the best interests of shareholders."sion. We have been clear that there is interest in the business and this remains the case.”