Analyst: RBS will sell Citizens Bank ‘in the next year or two’November 20th, 2012 at 10:16 am by Ted Nesi under Nesi's Notes, On the Main Site
“I think it will happen in the next year or two. It makes sense for business reasons and timing,” Barua told Reuters in a new article that provides the clearest, most detailed assessment so far on when and why RBS is likely to sell off the Providence-based lender.
Citing a Credit Suisse analysis, Reuters reporters Steve Slater and Matt Scuffham say a potential deal for Citizens could net RBS anywhere from $8.8 billion to $13.6 billion.
And while Slater and Schffham echo the conventional wisdom that TD Bank is the most likely buyer, they offer a long list of other potential suitors: PNC, U.S. Bancorp, Mitsubishi UFJ and Itau Unibano. Another option would be Citizens getting split up between TD and another regional lender such as M&T Bank, Fifth-Third, Huntington or KeyCorp.
• Related: Full coverage of a possible Citizens Financial Group sale (Nov. 5 to Aug. 6)