You can now read 10 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe


RBS under pressure to sell Citizens group

For the second time in three months, speculation is swirling that the ailing Royal Bank of Scotland may have to sell its US subsidiary, Citizens Financial Group, to raise money.

The latest rumors have been fueled by reports that the British bank’s chief regulator urged RBS chief Stephen Hester in a recent letter to consider selling Citizens, which has its headquarters in Providence. The British government, which bailed out the bank during the financial crisis, still has about an 81 percent ownership stake and would eventually like to be repaid.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week