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TD Bank Eyeing a Potential Bid for Citizens Bank

 (Image source: nbcphiladelphia)

According to U.K.’s The Sunday Times, Toronto-Dominion Bank (USA) (NYSE:TD) is eyeing a bid to acquire Citizens Bank, which is owned by Royal Bank of Scotland Group plc (ADR) (NYSE:RBS). Citizens Bank is valued at 12.8 million. The U.K. government is already mulling plans to break up RBS. The government bailed out the bank for an 82 percent ownership stake during the financial crisis of 2008. If TD acquires Citizens Bank, it would increase TD’s presents in America. TD is already among the top ten banks in the U.S. But TD Bank has been hush-hush about the potential bid.