Citigroup, Bank of America and JPMorgan Chase may look to Europe for takeovers as they exhaust opportunities at home, a report by PricewaterhouseCoopers said.

Damian Guly and Nick Page, the authors of the report, said: "The three major banks in the US are close to their maximum size in their home territory. They are looking for new targets and have the capital to buy almost any bank in Europe.'