U.S. Bancorp Said to Be Top Suitor for Citizens Chicago Branches

U.S. Bancorp, the largest bank based in the Midwestern U.S., is the leading contender to buy the Chicago branches of Citizens Financial Group Inc. because smaller bidders are wary of raising capital to fund the deal, people with knowledge of the matter said.

The Minneapolis-based bank is in talks with Citizens, the U.S. subsidiary of Royal Bank of Scotland Group Plc, about buying 100 branches, said the people, who asked not to be identified because the information is private. The talks may not lead to a sale, and Citizens is still engaged with other potential buyers, one person said.