LONDON Oct 13 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
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 percent owned by British taxpayers, said in
February that it would sell 20-25 percent of Citizens in the
next two years through an initial public offerring in New York.
It is under pressure from lawmakers to focus on lending to
British households and businesses, and from Britain's financial
regulator to bolster its capital position.
Analysts have said that a full sale of the U.S. business
could raise as much as 8 billion pounds.
Toronto-Dominion is one of a number of parties to have been
linked with a takeover of the business, but Chief Executive Ed
Clark dismissed the idea in February, saying that a deal would
not meet his bank's stated criteria for acquisitions.
The Canadian bank could not be reached immediately for