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A man passes a Royal Bank of Scotland (RBS) branch in London in this October 13, 2008 file photo.
A man passes a Royal Bank of Scotland (RBS) branch in London in this October 13, 2008 file photo.
(Luke MacGregor/Reuters)

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Why RBS Citizens deal is a long shot for TD

If Royal Bank of Scotland were to sell RBS Citizens Financial Group, its U.S. subsidiary, it would be far from a clear target for Toronto-Dominion Bank.

That’s the idea CIBC World Markets analyst Robert Sedran tossed around in a note to clients Monday, after media reports that named TD a good candidate to take over Rhode Island-based Citizens. A Wall Street Journal article in October said that RBS had been encouraged by a British financial regulator to sell its U.S. business, and suggested TD would be the “most likely” buyer. A spokesperson for TD said the bank does not comment on speculation.