BANKING & FINANCE - Dec. 19, 1995

Fleet Reportedly to Buy Natwest’s U.S. Unit: Boston-based Fleet Financial Group Inc. has agreed to buy the U.S. banking operation of Britain’s National Westminster Bank for $3.5 billion, according to sources quoted in today’s New York Times. An announcement is scheduled for today in New York, the newspaper said. Spokesmen for both companies declined to comment. The Natwest banking unit has $32 billion in assets, with 310 branches in New York and New Jersey. Fleet has just completed its $3.7-billion acquisition of Shawmut National Corp., strengthening its position as the largest banking company in New England. That deal also made it the 10th-largest in the United States, with $81 billion in assets.