Acquisition rumors about Royal Bank of Scotland's U.S. operations are swirling again.

RBS has had initial discussions with Japanese megabank Sumitomo Mitsui Financial Group about a possible deal for its $120 billion-asset RBS Citizens unit, the Wall Street Journal, citing anonymous sources, reported Monday. The talks are early and informal, the report said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.