RBS plans IPO for U.S. arm Citizens—Reuters, Feb. 25

British state-backed lender Royal Bank of Scotland is set to signal this week that it plans a partial sale of its U.S. bank Citizens this year or next, a source close to the matter said. RBS will say at its annual results on Thursday that its preferred option for Citizens is an initial public offering (IPO) in New York to sell about 20-25 percent of the bank, the source said.

Britain's financial regulator has put pressure on RBS to sell Citizens, which analysts have valued at between $9 billion and $15 billion, to bolster its capital and concentrate its focus on its core UK business.

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