Reuters
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TD Bank CEO pours cold water on Citizens deal
Thu, Feb 28 15:34 PM EST

TORONTO, Feb 28 (Reuters) - Toronto-Dominion Bank Chief Executive Ed Clark all but shot down the idea that the bank might buy Royal Bank of Scotland's Citizens Bank unit, saying on Thursday such a deal would not meet TD's stated criteria for transaction.

On conference call, Clark said any deal TD would consider would have to fit the bank's strategy, timing and risk appetite, meet its financial hurdles and be supported by market.

"We do not believe that a transaction to acquire RBS's Citizens Bank is a (deal) that meets this criteria," he said.

TD, which has made several U.S. consumer bank acquisitions over the past 8 years, held informal discussions with RBS last year about Citizens, people familiar with the situation have told Reuters.


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