Entries tagged "Citizens"
Banks like HSBC and Citigroup continue to flood Wall Street and Main Street with pink slips.
Earlier in the week, Dealscape speculated that should troubled U.K. bank the Royal Bank of Scotland Group plc sell its U.S. retail banking business, Citizens Financial Group, Capital One Financial Corp. would be a natural fit. McLean, Va.-based Capital One was flush with $3.5 billion from a U.S. Treasury capital injection via the Troubled Asset Relief Plan, and additional deposits could help the firm ride out the recession, which will undoubtedly batter its credit card business. A Citizens purchase also made sense geographically. The logic was half right. Capital One was on the prowl, and it just opted for...
While Americans digested their holiday dinners, the British government took control of the Royal Bank of Scotland Group plc. But as Americans headed out on Black Friday, the 1,600 branches of Citizens Financial Group, RBS' U.S. unit, operated normally. ...
With $25 billion of fresh capital courtesy of Treasury Secretary Hank Paulson, Citigroup Inc.'s Vikram Pandit may go on a shopping spree for deposits. Meanwhile, troubled U.K. bank, Royal Bank of Scotland Group plc, which just got its own infusion from the British government, owns a relatively large bank franchise in the U.S., Citizen Financial Group Inc., without subprime exposure. Matchmaking anyone?...
