Itau Unibanco Plans Bid for RBS Citizens Unit, Sunday Times Says

Brazilian bank Itau Unibanco Holding SA is planning a bid for Royal Bank of Scotland Group Plc’s U.S.-based Citizens unit, the Sunday Times reported, without saying where it got the information.

Itau Unibanco hasn’t yet made an approach to RBS, the newspaper said. It’s also interested in a potential bid for Banco Santander SA’s Sovereign Bancorp Inc. and Societe Generale SA’s Bank West as it seeks to expand in the U.S., according to the Sunday Times.