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RBS to sell more of its stake in Citizens bank

  • The Royal Bank of Scotland (RBS) will sell more stake in the American bank Citizens, media reports said.

    The share sale to the tune of $3.3 billion means the state-owned British bank will own less than 50% of Citizens.

    The move is part of the RBS strategy to focus on its retail business at home and cut its foreign footprint.

    The UK bank had sold part of the US firm last year in an IPO.

    Tagged as: RBS, US bank, Citizens, British bank, IPO, UK banking, business news