RBS sticking with Citizens IPO plan amid sale rumors

Playing down rumors of a possible deal to sell its U.S. retail unit to Sumitomo Mitsui Financial Group (SMFG +0.4%), RBS says its plan to begin the IPO process for Citizens in H2 remains on track. "That is our plan," says the bank.

The statement is in contrast with the vibe of new CEO Ross McEwan who has said he would consider offers for Citizens as RBS moves ahead with the IPO.

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