TD Bank reportedly considering bid for RBS's U.S. retail business

|By:, SA News Editor

TD has long coveted Royal Bank of Scotland's (RBS) Citizens Bank, reports the Sunday Times, but its interest has grown since this summer. For its part, RBS has played it cool over its desire for a quick sale - publicly continuing to target late 2014 or early 2015 as a time frame for an IPO - but U.K. politicians (the government owns 82% of the bank) are pressing the bank and new CEO Ross McEwan to focus on domestic lending and building capital.

Citizens Bank is estimated to be worth as much as £8B.