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The Boston Globe

Business

Citizens seeks buyer for Charter One, report says

RBS Citizens Financial Group is reportedly preparing to auction off its Charter One Bank franchise in Chicago.

Citizens bought Charter One in 2004 for $10 billion. Today the franchise has $6 billion in deposits and operates more than 100 branches. Citizens has hired Bank of America Merrill Lynch to handle the sale of Charter One, according to Crain’s Chicago Business. A Citizens spokesman declined to comment on the report Friday.

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