Canada's Toronto-Dominion Bank is considering an 8 billion pound ($12.76 billion) bid for Royal Bank of Scotland's American retail banking business Citizens, The Sunday Times reported without citing sources.
The newspaper said the Canadian bank has long coveted Citizens and has become more interested since the summer. RBS declined to comment on the report.
The bank, 82 per cent owned by British taxpayers, said in February that it would sell 20-25 per cent of Citizens in the next two years through an initial public offering in New York.
