DBS Said to Work With Citigroup on Possible Offer for Coutts

DBS Group Holdings Ltd., Southeast Asia’s largest lender, is working with Citigroup Inc. as it studies a potential bid for the international business of Royal Bank of Scotland Group Plc’s private bank, people with knowledge of the matter said.

The Singapore bank’s deliberations are still at an early stage and it hasn’t made a final decision on whether to proceed with an offer for Coutts International, said the people, who asked not to be named as the process is private.