Britain’s Royal Bank of Scotland Group Plc is considering selling its U.S. subsidiary Citizens Financial Group, which is the 10th largest bank operating in Connecticut, Bloomberg News reports.
The sales consideration comes as the banking company looks to focus more on its U.K. business in the wake of financial problems stemming from the European debt crisis.
Besides New Jersey-based Citizens Bank, which has 51 branches and $2.5 billion in deposits in Connecticut, RBS’s U.S. operations also include Stamford investment bank RBS Securities Inc.
