RBS (RBS) will reportedly unveil plans on Thursday, along with its FY results, to float its...

|By:, SA News Editor

RBS (RBS) will reportedly unveil plans on Thursday, along with its FY results, to float its Citizens U.S. retail bank. While an IPO could eventually bring in £8B, RBS will initially sell just 25%. The move is part of RBS's response to political and regulatory pressure to boost its balance sheet and increase its U.K. focus. RBS also intends to continue reducing its investment bank ops, including slashing the size of its balance sheet by £20-30B.