The British owner of Citizens Bank plans to sell 20 to 25 percent of the bank to investors in roughly two years, a move expected to have little impact on depositors.
Royal Bank of Scotland is expected to announce Thursday, when it releases quarterly earnings, that it is planning to launch an initial public offering for its American subsidiary and sell a minority share of stock on public exchanges, according to a person briefed on the matter, but not authorized to speak publicly. Citizens, based in Providence, is the second-largest retail bank in Massachusetts and one of the largest in the United States.
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Tehy can sell the whole thing to customers. It will still be a cr*ppy bank.