Seeking Alpha

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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