British bank Barclays Plc is looking to buy a retail bank in the US to extend its presence after buying Lehman Brothers North American operations in 2008, the Wall Street Journal reported yesterday, citing people close to the matter.

According to the report, the bank is not in talks with any US banks and no deals are imminent. But Barclays has designated an internal team to assess possible targets and is looking for a franchise with a strong branch network and deposit base, the Journal said.